Gates Industrial (GTES) – Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Gates Industrial (NYSE: GTES) recently:

• 12/9/2024 – Gates Industrial had its price target raised by analysts at Citigroup Inc. from $24.00 to $27.00. They now have a “buy” rating on the stock.
• 12/6/2024 – Gates Industrial had its price target raised by analysts at Jefferies Financial Group Inc. from $23.00 to $26.00. They now have a “buy” rating on the stock.
• 12/5/2024 – Gates Industrial was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $25.00 price target on the stock, up previously from $21.00.
• 11/21/2024 – Gates Industrial had its price target raised by analysts at KeyCorp from $22.00 to $23.00. They now have an “overweight” rating on the stock.
• 11/5/2024 – Gates Industrial had its price target raised by analysts at Barclays PLC from $16.00 to $21.00. They now have an “equal weight” rating on the stock.
• 10/31/2024 – Gates Industrial had its price target raised by analysts at KeyCorp from $21.00 to $22.00. They now have an “overweight” rating on the stock.

Gates Industrial Stock Down 0.8 %

GTES stock traded down $0.18 during midday trading on Wednesday, hitting $22.17. The company’s stock had a trading volume of 705,562 shares, compared to its average volume of 3,033,892. The stock has a market capitalization of $5.65 billion, a P/E ratio of 26.71 and a beta of 1.38. The company’s fifty day moving average price is $20.01 and its 200 day moving average price is $17.98. Gates Industrial Corp PLC has a twelve month low of $11.76 and a twelve month high of $23.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GTES. CWM LLC increased its position in Gates Industrial by 58.6% during the 2nd quarter. CWM LLC now owns 39,407 shares of the company’s stock worth $623,000 after purchasing an additional 14,555 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Gates Industrial by 602.9% during the second quarter. SG Americas Securities LLC now owns 66,419 shares of the company’s stock worth $1,050,000 after buying an additional 56,970 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Gates Industrial by 44.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,842 shares of the company’s stock worth $551,000 after acquiring an additional 10,776 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Gates Industrial by 88.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 20,573 shares of the company’s stock worth $325,000 after acquiring an additional 9,640 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Gates Industrial by 1.8% during the second quarter. Wedge Capital Management L L P NC now owns 158,449 shares of the company’s stock worth $2,505,000 after acquiring an additional 2,851 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.