Gates Industrial (NYSE:GTES) Downgraded to “Hold” Rating by Wall Street Zen

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

Other analysts also recently issued reports about the stock. Barclays dropped their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Robert W. Baird dropped their target price on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Morgan Stanley upped their target price on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada increased their price target on Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.36.

Gates Industrial Stock Down 0.5%

Shares of Gates Industrial stock opened at $26.89 on Friday. The business’s fifty day moving average price is $26.47 and its two-hundred day moving average price is $25.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66. The company has a market capitalization of $6.83 billion, a P/E ratio of 28.01 and a beta of 1.25. Gates Industrial has a 1-year low of $20.88 and a 1-year high of $29.17.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The company had revenue of $851.10 million during the quarter, compared to analyst estimates of $859.72 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, research analysts forecast that Gates Industrial will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Gates Industrial

Several hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System boosted its position in shares of Gates Industrial by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 85,748 shares of the company’s stock worth $1,841,000 after buying an additional 479 shares during the period. Xponance LLC grew its holdings in shares of Gates Industrial by 3.7% during the fourth quarter. Xponance LLC now owns 13,792 shares of the company’s stock valued at $296,000 after buying an additional 486 shares in the last quarter. Fifth Third Bancorp raised its position in Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after buying an additional 514 shares during the period. Glenmede Investment Management LP raised its position in Gates Industrial by 0.9% during the third quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock valued at $1,366,000 after buying an additional 514 shares during the period. Finally, Lido Advisors LLC lifted its stake in Gates Industrial by 3.8% in the 4th quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock worth $302,000 after acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.