Gates Industrial Corporation PLC (NYSE:GTES – Get Free Report) saw some unusual options trading activity on Wednesday. Stock traders purchased 5,002 call options on the company. This represents an increase of 163% compared to the typical daily volume of 1,903 call options.
Gates Industrial Stock Performance
Shares of GTES opened at $22.65 on Thursday. The firm has a market cap of $5.84 billion, a P/E ratio of 27.62 and a beta of 1.21. Gates Industrial has a twelve month low of $14.70 and a twelve month high of $23.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.35 and a current ratio of 3.33. The firm’s 50 day moving average price is $20.69 and its two-hundred day moving average price is $20.39.
Gates Industrial (NYSE:GTES – Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $847.60 million for the quarter, compared to analyst estimates of $823.56 million. Gates Industrial had a net margin of 6.39% and a return on equity of 10.15%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. On average, analysts forecast that Gates Industrial will post 1.36 EPS for the current fiscal year.
Institutional Trading of Gates Industrial
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Gates Industrial from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 14th. The Goldman Sachs Group upped their price target on Gates Industrial from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. KeyCorp upped their price target on Gates Industrial from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Finally, Royal Bank Of Canada upped their price target on Gates Industrial from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.22.
Get Our Latest Stock Report on Gates Industrial
Gates Industrial Company Profile
Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.
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