Gates Industrial (NYSE:GTES) Given New $39.00 Price Target at Robert W. Baird

Gates Industrial (NYSE:GTES) had its price target lifted by stock analysts at Robert W. Baird from $37.00 to $39.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 39.22% from the stock’s previous close.

GTES has been the subject of a number of other research reports. Wall Street Zen lowered shares of Gates Industrial from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Morgan Stanley boosted their price target on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Royal Bank Of Canada upped their price objective on shares of Gates Industrial from $30.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Gates Industrial in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.70.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $28.01 on Monday. The stock has a market cap of $7.12 billion, a P/E ratio of 19.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. The stock’s fifty day moving average is $26.70 and its 200 day moving average is $25.40. Gates Industrial has a one year low of $20.88 and a one year high of $29.17.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The business had revenue of $941.60 million for the quarter, compared to the consensus estimate of $927.28 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Sell-side analysts anticipate that Gates Industrial will post 1.53 earnings per share for the current year.

Hedge Funds Weigh In On Gates Industrial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Gates Industrial by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock worth $261,040,000 after purchasing an additional 295,706 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Gates Industrial by 98.7% in the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock worth $179,775,000 after buying an additional 4,158,341 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Gates Industrial by 5.9% in the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock worth $178,687,000 after buying an additional 461,160 shares in the last quarter. State Street Corp boosted its position in Gates Industrial by 3.0% during the fourth quarter. State Street Corp now owns 7,971,572 shares of the company’s stock worth $171,150,000 after acquiring an additional 232,447 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Gates Industrial by 5.5% during the 4th quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock valued at $156,840,000 after acquiring an additional 381,896 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.