Shares of Gates Industrial Corp PLC (NYSE: GTES) have been assigned an average rating of “buy” by the twelve ratings companies that currently cover the company, reports Marketbeat Ratings. Four investment analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The 12-month average price target among brokers who have reported on the stock in the past year is $21.50.

A number of brokerages have recently commented on GTES. On Wednesday, Zacks Investment Research downgraded Gates Industrial from a “buy” rating to a “hold” rating in a research report. TheStreet upgraded Gates Industrial from a “c+” to a “b-” rating in a research report on Wednesday, November 24. Morgan Stanley lowered its target price on Gates Industrial from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday. Royal Bank of Canada raised its price target on Gates Industrial from $20.00 to $21.00 and gave the company an “outperform” rating in a Tuesday, Nov. 9 research note. Finally, Barclays downgraded Gates Industrial from an “overweight” rating to an “equal weight” rating and reduced its price target for the company from $22.00 to $18.00 in a Monday, Dec. 6 research note. .

GTES stock opened at $16.59 on Friday. The stock has a 50-day moving average price of $16.21 and a 200-day moving average price of $16.79. Gates Industrial has a 1-year low of $13.71 and a 1-year high of $18.94. The company has a current ratio of 2.64, a quick ratio of 1.87 and a debt ratio of 0.78. The company has a market capitalization of $4.81 billion, a PE ratio of 19.07 and a beta of 1.69.

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Gates Industrial (NYSE:GTES) last released its results on Sunday, November 7. The company reported EPS of $0.31 for the quarter, meeting analysts’ consensus estimate of $0.31. Gates Industrial had a return on equity of 11.32% and a net margin of 7.49%. The company posted revenue of $862.40 million in the quarter, versus analyst estimates of $855.45 million. During the same period of the previous year, the company posted EPS of $0.26. The company’s revenue increased by 21.1% compared to the same quarter last year. On average, analysts expect Gates Industrial to post 1.22 earnings per share for the current year.

Several hedge funds and other institutional investors have recently changed their positions in GTES. Auxier Asset Management increased its position in Gates Industrial by 1.5% in the second quarter. Auxier Asset Management now owns 48,807 shares of the company worth $882,000 after purchasing an additional 700 shares in the last quarter. MML Investors Services LLC increased its stake in Gates Industrial by 6.3% in the third quarter. MML Investors Services LLC now owns 13,567 shares of the company worth $221,000 after acquiring 807 additional shares in the last quarter. The Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Gates Industrial by 5.2% in the third quarter. The Healthcare of Ontario Pension Plan Trust Fund now owns 18,793 shares of the company worth $306,000 after acquiring 922 additional shares in the last quarter. CIBC Asset Management Inc. increased its stake in Gates Industrial by 11.2% in the third quarter. CIBC Asset Management Inc. now owns 12,118 shares of the company worth $197,000 after acquiring 1,224 additional shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Gates Industrial by 27.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,175 shares in the company worth $100,000 after acquiring an additional 1,328 shares in the last quarter.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products are for harsh and hazardous industries such as agriculture, construction, manufacturing and energy, everyday consumer applications such as printers, pressure washers, automatic doors and vacuum cleaners and virtually all forms of transportation.

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Analyst recommendations for Gates Industrial (NYSE: GTES)

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