Barclays Lowers Gates Industrial (NYSE:GTES) Price Target to $25.00

Gates Industrial (NYSE:GTES) had its price target trimmed by Barclays from $26.00 to $25.00 in a research report released on Wednesday, MarketBeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on GTES. Evercore ISI boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their price objective on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 6th. The Goldman Sachs Group cut their target price on Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Royal Bank of Canada upped 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, KeyCorp raised their price objective on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Gates Industrial presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Gates Industrial Trading Down 1.5 %

Shares of Gates Industrial stock opened at $19.77 on Wednesday. Gates Industrial has a 1-year low of $15.14 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The stock has a market cap of $5.05 billion, a P/E ratio of 27.08 and a beta of 1.33. The stock’s 50 day simple moving average is $20.83 and its 200-day simple moving average is $20.11.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. Analysts predict that Gates Industrial will post 1.36 EPS for the current fiscal year.

Insider Activity

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of Gates Industrial stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the transaction, the director now directly owns 188,452 shares of the company’s stock, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of Gates Industrial

Large investors have recently made changes to their positions in the company. GeoWealth Management LLC raised its stake in Gates Industrial by 187.4% in the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company’s stock valued at $25,000 after buying an additional 789 shares in the last quarter. Assetmark Inc. increased its holdings 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 valued at $32,000 after acquiring an additional 1,514 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Gates Industrial during the 4th quarter worth about $43,000. Versant Capital Management Inc lifted its stake in Gates Industrial by 178.3% during the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after purchasing an additional 1,598 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in 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 in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About Gates Industrial

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.