Barclays Lowers Gates Industrial (NYSE:GTES) Price Target to $25.00

Gates Industrial (NYSE:GTES - Free Report) had its price target reduced by Barclays from $26.00 to $25.00 in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the stock. Evercore ISI upped their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Jefferies Financial Group increased their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. KeyCorp increased their target price on Gates Industrial from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their price objective on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

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Gates Industrial Stock Down 4.4 %

Shares of GTES stock traded down $0.85 during trading on Wednesday, reaching $18.48. The company's stock had a trading volume of 1,993,461 shares, compared to its average volume of 2,926,344. Gates Industrial has a 1-year low of $15.14 and a 1-year high of $23.85. The stock's 50-day moving average price is $20.77 and its 200 day moving average price is $20.15. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 25.31 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, hitting analysts' consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, research analysts anticipate that Gates Industrial will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Fredrik J. Eliasson bought 60,000 shares of Gates Industrial stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the purchase, the director now owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. The trade was a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Gates Industrial

A number of institutional investors have recently modified their holdings of GTES. GeoWealth Management LLC lifted its stake in shares of Gates Industrial by 187.4% in the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock valued at $25,000 after purchasing an additional 789 shares during the period. Assetmark Inc. grew its holdings in Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company's stock valued at $32,000 after purchasing an additional 1,514 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Gates Industrial in the fourth quarter valued at $43,000. Versant Capital Management Inc boosted its position in shares of Gates Industrial by 178.3% in the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company's stock worth $51,000 after buying an additional 1,598 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after acquiring an additional 724 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.