Gates Industrial (NYSE:GTES) Upgraded to Strong-Buy at Wall Street Zen

Gates Industrial (NYSE:GTES) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

A number of other equities analysts have also commented on GTES. Royal Bank Of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Morgan Stanley increased their price objective on Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, March 11th. Barclays raised their target price on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Weiss Ratings raised Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. reduced their price target on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.73.

Gates Industrial Stock Performance

Gates Industrial stock opened at $22.12 on Friday. The business has a 50 day moving average of $24.86 and a 200-day moving average of $23.87. The company has a market capitalization of $5.61 billion, a P/E ratio of 22.80 and a beta of 1.23. Gates Industrial has a 1 year low of $14.70 and a 1 year high of $28.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42.

Gates Industrial (NYSE:GTES) last posted its earnings results on Thursday, February 12th. The company reported $0.38 EPS for the quarter, topping 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 business had revenue of $856.20 million for the quarter, compared to the consensus estimate of $853.35 million. During the same period last year, the company earned $0.36 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities research analysts predict that Gates Industrial will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Gates Industrial

A number of hedge funds have recently bought and sold shares of GTES. Los Angeles Capital Management LLC acquired a new position in Gates Industrial in the fourth quarter valued at $26,000. True Wealth Design LLC grew its holdings in Gates Industrial by 133.2% during the 3rd quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 666 shares during the period. Transamerica Financial Advisors LLC raised its position in shares of Gates Industrial by 51.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after acquiring an additional 539 shares in the last quarter. SJS Investment Consulting Inc. raised its position in shares of Gates Industrial by 5,123.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock worth $49,000 after acquiring an additional 1,947 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Gates Industrial in the 3rd quarter valued at about $51,000. 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.