Gates Industrial Corp PLC (NYSE:GTES) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Gates Industrial Corp PLC (NYSE:GTES - Get Free Report) has received an average rating of "Moderate Buy" from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.40.

Several brokerages have issued reports on GTES. Morgan Stanley started coverage on Gates Industrial in a research report on Friday, September 6th. They set an "equal weight" rating and a $19.00 target price on the stock. Royal Bank of Canada upgraded Gates Industrial from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $20.00 to $22.00 in a research note on Monday, August 19th. Barclays increased their price target on shares of Gates Industrial from $16.00 to $21.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Evercore ISI raised their price target on shares of Gates Industrial from $15.00 to $16.00 and gave the company an "in-line" rating in a report on Monday, August 19th. Finally, KeyCorp boosted their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st.

Institutional Trading of Gates Industrial

A number of hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its holdings in Gates Industrial by 341.1% in the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company's stock valued at $27,000 after purchasing an additional 1,320 shares during the period. Venturi Wealth Management LLC grew its stake in Gates Industrial by 35.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock valued at $54,000 after acquiring an additional 814 shares during the period. Capital Performance Advisors LLP acquired a new stake in Gates Industrial in the 3rd quarter valued at $67,000. GAMMA Investing LLC increased its holdings in Gates Industrial by 333.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,896 shares of the company's stock worth $68,000 after acquiring an additional 2,998 shares in the last quarter. Finally, Quarry LP purchased a new position in Gates Industrial during the third quarter valued at $71,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Trading Up 0.2 %

NYSE:GTES traded up $0.04 during midday trading on Friday, hitting $22.16. The stock had a trading volume of 775,395 shares, compared to its average volume of 3,059,907. 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 stock has a 50-day moving average of $19.33 and a 200 day moving average of $17.73. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 26.68 and a beta of 1.38. Gates Industrial has a one year low of $11.22 and a one year high of $22.43.

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.