Barclays Has Lowered Expectations for Gates Industrial (NYSE:GTES) Stock Price

Gates Industrial (NYSE:GTES) had its target price reduced by Barclays from $27.00 to $26.00 in a research report released on Monday morning, Marketbeat reports. They currently have an overweight rating on the stock.

A number of other research firms also recently weighed in on GTES. KeyCorp lifted their target price on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Jefferies Financial Group lifted their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 6th. The Goldman Sachs Group boosted their price target on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Royal Bank of Canada boosted their price target on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Evercore ISI boosted their price target on Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

Gates Industrial Stock Down 1.3 %

GTES opened at $19.24 on Monday. Gates Industrial has a fifty-two week low of $15.14 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The company has a market capitalization of $4.92 billion, a P/E ratio of 26.36 and a beta of 1.33. The stock has a fifty day moving average of $21.00 and a 200-day moving average of $19.97.

Gates Industrial (NYSE:GTES) last posted its earnings results 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, equities analysts expect that Gates Industrial will post 1.36 EPS for the current year.

Insider Buying and Selling at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson bought 60,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the transaction, the director now directly owns 188,452 shares in the company, valued at approximately $3,686,121.12. The trade was a 46.71 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. HighPoint Advisor Group LLC grew its holdings in shares of Gates Industrial by 3.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 14,800 shares of the company’s stock worth $331,000 after purchasing an additional 452 shares during the last quarter. EP Wealth Advisors LLC raised its position in Gates Industrial by 3.6% in the 4th quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company’s stock valued at $298,000 after buying an additional 504 shares during the last quarter. MetLife Investment Management LLC raised its position in Gates Industrial by 15.8% in the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company’s stock valued at $86,000 after buying an additional 567 shares during the last quarter. United Services Automobile Association raised its position in Gates Industrial by 4.8% in the 4th quarter. United Services Automobile Association now owns 14,054 shares of the company’s stock valued at $289,000 after buying an additional 646 shares during the last quarter. Finally, Utah Retirement Systems raised its position in Gates Industrial by 6.4% in the 4th quarter. Utah Retirement Systems now owns 11,700 shares of the company’s stock valued at $241,000 after buying an additional 700 shares during 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.