Gates Industrial (NYSE:GTES) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Gates Industrial (NYSE:GTES) from a buy rating to a strong-buy rating in a research report released on Sunday morning.

Several other brokerages also recently issued reports on GTES. Morgan Stanley upped their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 11th. Citigroup lifted their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. cut their price target on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Barclays increased their price target on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Finally, Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 13th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.73.

Gates Industrial Stock Up 7.4%

GTES opened at $22.60 on Friday. The firm has a market cap of $5.74 billion, a P/E ratio of 23.30 and a beta of 1.23. The business’s fifty day simple moving average is $24.83 and its 200 day simple moving average is $23.80. Gates Industrial has a 52 week low of $14.70 and a 52 week high of $28.47. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last announced its earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The firm had revenue of $856.20 million during the quarter, compared to the consensus estimate of $853.35 million. During the same quarter in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities research analysts anticipate that Gates Industrial will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GTES. Empowered Funds LLC purchased a new position in shares of Gates Industrial in the 1st quarter valued at $381,000. Creative Planning lifted its stake in shares of Gates Industrial by 53.9% during the second quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after purchasing an additional 5,404 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Gates Industrial by 5.6% in the second quarter. Legal & General Group Plc now owns 655,571 shares of the company’s stock worth $15,098,000 after buying an additional 34,681 shares during the period. Rhumbline Advisers grew its stake in shares of Gates Industrial by 2.7% in the second quarter. Rhumbline Advisers now owns 513,839 shares of the company’s stock valued at $11,834,000 after buying an additional 13,698 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Gates Industrial by 52.7% in the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after buying an additional 6,190 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Company Profile

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.