Analysts Set Gates Industrial Corp PLC (NYSE:GTES) PT at $24.33

Shares of Gates Industrial Corp PLC (NYSE:GTES - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.22.

GTES has been the subject of a number of research reports. Jefferies Financial Group raised their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the company a "buy" rating in a report on Friday, December 6th. KeyCorp lifted their price target on shares of Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Barclays decreased their price objective on Gates Industrial from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Monday. Citigroup cut their target price on Gates Industrial from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group upped their price target on Gates Industrial from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson purchased 60,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired 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 $3,686,121.12. This trade represents a 46.71 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.30% of the company's stock.

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Institutional Inflows and Outflows

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

Gates Industrial Price Performance

Shares of NYSE GTES traded down $0.45 during midday trading on Monday, reaching $18.82. 2,301,376 shares of the company were exchanged, compared to its average volume of 2,924,487. The stock's 50-day moving average price is $20.97 and its 200-day moving average price is $19.97. The stock has a market cap of $4.81 billion, a P/E ratio of 25.77 and a beta of 1.33. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. Gates Industrial has a one year low of $15.14 and a one year high of $23.85.

Gates Industrial (NYSE:GTES - Get Free Report) last issued 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, sell-side analysts anticipate that Gates Industrial will post 1.36 earnings per share for the current fiscal year.

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.