Gates Industrial (NYSE:GTES) Hits New 12-Month High - What's Next?

Gates Industrial Corp PLC (NYSE:GTES - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $23.41 and last traded at $23.32, with a volume of 3071525 shares traded. The stock had previously closed at $22.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Wednesday. Jefferies Financial Group boosted their target price on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada boosted their price target 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. Citigroup dropped their price target on shares of Gates Industrial from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, Barclays boosted their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.90.

Gates Industrial Stock Down 4.4 %

The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The stock's 50-day moving average is $21.08 and its 200-day moving average is $19.60. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 30.53 and a beta of 1.37.

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

Institutional Trading of Gates Industrial

Several institutional investors have recently made changes to their positions in GTES. GeoWealth Management LLC grew its stake 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 in the last quarter. Assetmark Inc. grew its stake in shares of Gates Industrial by 2,968.6% in the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company's stock worth $32,000 after acquiring an additional 1,514 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Gates Industrial in 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, Venturi Wealth Management LLC grew its stake in shares of Gates Industrial by 35.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock worth $54,000 after acquiring an additional 814 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

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.