Jefferies Financial Group Issues Positive Forecast for Gates Industrial (NYSE:GTES) Stock Price

Gates Industrial (NYSE:GTES - Free Report) had its target price upped by Jefferies Financial Group from $23.00 to $26.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently commented on GTES. Evercore ISI upped their price target on Gates Industrial from $15.00 to $16.00 and gave the company an "in-line" rating in a report on Monday, August 19th. KeyCorp lifted their price target 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. Royal Bank of Canada raised shares of Gates Industrial from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $20.00 to $22.00 in a report on Monday, August 19th. Barclays raised shares of Gates Industrial from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $21.00 to $25.00 in a report on Thursday. Finally, Morgan Stanley initiated coverage on shares of Gates Industrial in a research note on Friday, September 6th. They issued an "equal weight" rating and a $19.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Gates Industrial currently has a consensus rating of "Moderate Buy" and an average price target of $21.30.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded down $0.29 on Friday, hitting $22.64. 2,228,481 shares of the company were exchanged, compared to its average volume of 2,553,531. The company's 50 day moving average price is $19.82 and its two-hundred day moving average price is $17.92. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 27.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.11 and a current ratio of 3.02. Gates Industrial has a one year low of $11.22 and a one year high of $23.34.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC grew its holdings in Gates Industrial by 341.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,707 shares of the company's stock worth $27,000 after acquiring an additional 1,320 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock valued at $54,000 after purchasing an additional 814 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Gates Industrial in the third quarter valued at approximately $67,000. GAMMA Investing LLC raised its position 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 purchasing an additional 2,998 shares during the last quarter. Finally, Quarry LP acquired a new position in Gates Industrial during the 3rd quarter worth $71,000. 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.