Gates Industrial (NYSE:GTES) Releases Earnings Results

Gates Industrial (NYSE:GTES) posted its earnings results on Thursday. The company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33, Zacks reports. Gates Industrial had a return on equity of 9.65% and a net margin of 5.72%.

Gates Industrial Stock Performance

NYSE:GTES traded up $0.10 during mid-day trading on Friday, hitting $22.28. 43,835 shares of the company traded hands, compared to its average volume of 2,239,968. The stock’s fifty day moving average price is $21.00 and its 200-day moving average price is $19.42. Gates Industrial has a one year low of $13.17 and a one year high of $23.34. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 30.47 and a beta of 1.37.

Analyst Ratings Changes

GTES has been the subject of a number of research analyst reports. KeyCorp lifted their target price on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Jefferies Financial Group lifted their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup cut their price objective on Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays raised Gates Industrial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $21.00 to $25.00 in a report on Thursday, December 5th. Finally, Royal Bank of Canada lifted their price objective on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.