Gates Industrial (NYSE:GTES) Research Coverage Started at DA Davidson

DA Davidson assumed coverage on shares of Gates Industrial (NYSE:GTES) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $29.00 target price on the stock.

Several other analysts have also recently issued reports on GTES. Royal Bank Of Canada raised their target price on Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Wolfe Research reiterated an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a research report on Thursday, July 9th. KeyCorp boosted their target price on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Wells Fargo & Company upped their target price on Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, Citigroup raised their price target on Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Gates Industrial has a consensus rating of “Moderate Buy” and a consensus price target of $32.45.

Gates Industrial Stock Up 1.2%

Shares of Gates Industrial stock opened at $25.21 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. Gates Industrial has a 52-week low of $20.88 and a 52-week high of $30.34. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 17.88 and a beta of 1.26. The company’s 50 day moving average price is $26.92 and its 200-day moving average price is $25.88.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Equities research analysts forecast that Gates Industrial will post 1.57 EPS for the current year.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total value of $177,360.00. Following the completion of the transaction, the director owned 44,044 shares in the company, valued at approximately $1,301,940.64. This represents a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in Gates Industrial during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC lifted its holdings in shares of Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after purchasing an additional 514 shares during the last quarter. Parallel Advisors LLC grew its position in Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after purchasing an additional 694 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Gates Industrial by 273.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after purchasing an additional 2,131 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

About Gates Industrial

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.