Gates Industrial (NYSE:GTES) was upgraded by equities research analysts at TheStreet from a “d+” rating to a “c-” rating in a report released on Tuesday, December 24th, TheStreetRatingsTable reports.
A number of other equities research analysts have also commented on GTES. ValuEngine raised shares of Gates Industrial from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. UBS Group started coverage on shares of Gates Industrial in a research note on Wednesday, December 11th. They set a “hold” rating and a $14.00 target price on the stock. Royal Bank of Canada lowered shares of Gates Industrial from an “outperform” rating to a “sector perform” rating and set a $10.00 target price on the stock. in a research note on Wednesday, October 9th. Finally, Zacks Investment Research raised shares of Gates Industrial from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $13.00.
NYSE GTES traded down $0.06 on Tuesday, hitting $13.24. The company’s stock had a trading volume of 188,306 shares, compared to its average volume of 391,659. The company’s 50-day moving average is $13.00 and its 200 day moving average is $10.85. The company has a quick ratio of 2.33, a current ratio of 3.20 and a debt-to-equity ratio of 1.08. Gates Industrial has a 1-year low of $6.76 and a 1-year high of $17.60. The firm has a market cap of $3.86 billion, a PE ratio of 5.23 and a beta of 2.20.
Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. Gates Industrial had a net margin of 23.67% and a return on equity of 11.38%. The company had revenue of $746.60 million for the quarter, compared to analyst estimates of $747.15 million. During the same period in the prior year, the firm posted $0.30 EPS. The company’s quarterly revenue was down 9.9% on a year-over-year basis. On average, equities analysts expect that Gates Industrial will post 0.94 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in Gates Industrial by 7.5% during the second quarter. Bank of Montreal Can now owns 23,667 shares of the company’s stock worth $270,000 after buying an additional 1,645 shares during the last quarter. Trexquant Investment LP raised its holdings in Gates Industrial by 9.0% during the second quarter. Trexquant Investment LP now owns 22,346 shares of the company’s stock worth $255,000 after buying an additional 1,853 shares during the last quarter. Swiss National Bank raised its holdings in Gates Industrial by 2.1% during the second quarter. Swiss National Bank now owns 107,900 shares of the company’s stock worth $1,231,000 after buying an additional 2,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Gates Industrial by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 284,006 shares of the company’s stock valued at $3,241,000 after purchasing an additional 2,521 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new stake in shares of Gates Industrial in the third quarter valued at about $27,000.
About Gates Industrial
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.