1 week Ago By ABMN Staff
Morgan Stanley initiated coverage on shares of Gates Industrial ( NYSE:GTES – Free Report ) in a report issued on Friday, Marketbeat.com reports. The firm issued an equal weight rating and a $19.
00 target price on the stock. Several other research firms have also recently commented on GTES. Evercore ISI raised their target price on shares of Gates Industrial from $15.
00 to $16.00 and gave the stock an in-line rating in a research note on Monday, August 19th. The Goldman Sachs Group lifted their price objective on Gates Industrial from $18.
00 to $20.00 and gave the company a neutral rating in a report on Thursday, August 1st. Robert W.
Baird reduced their price target on Gates Industrial from $26.00 to $22.00 and set an outperform rating for the company in a report on Thursday, August 1st.
Barclays dropped their price objective on Gates Industrial from $17.00 to $16.00 and set an equal weight rating on the stock in a report on Tuesday, June 4th.
Finally, Royal Bank of Canada upgraded shares of Gates Industrial from a sector perform rating to an outperform rating and boosted their target price for the stock from $20.00 to $22.00 in a research report on Monday, August 19th.
Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Gates Industrial presently has an average rating of Moderate Buy and a consensus price target of $19.40.
Read Our Latest Report on GTES Gates Industrial Price Performance Gates Industrial ( NYSE:GTES – Get Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.
33 by $0.01. Gates Industrial had a return on equity of 10.
27% and a net margin of 7.24%. The firm had revenue of $885.
50 million during the quarter, compared to the consensus estimate of $893.00 million. On average, equities research analysts anticipate that Gates Industrial will post 1.
22 earnings per share for the current year. Insider Transactions at Gates Industrial In other news, Director Wilson S. Neely bought 11,952 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st.
The stock was purchased at an average price of $16.80 per share, with a total value of $200,793.60.
Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $100,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink . Insiders own 2.
30% of the company’s stock. Institutional Trading of Gates Industrial Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Gates Industrial by 2.
5% during the 2nd quarter. Bank of Montreal Can now owns 33,800 shares of the company’s stock worth $535,000 after purchasing an additional 823 shares during the period. Advisory Services Network LLC boosted its stake in Gates Industrial by 2.
9% in the 4th quarter. Advisory Services Network LLC now owns 34,508 shares of the company’s stock worth $463,000 after buying an additional 978 shares during the last quarter. Principal Financial Group Inc.
grew its holdings in Gates Industrial by 8.9% in the 2nd quarter. Principal Financial Group Inc.
now owns 15,242 shares of the company’s stock valued at $241,000 after buying an additional 1,250 shares during the period. Headlands Technologies LLC increased its stake in shares of Gates Industrial by 341.1% during the 2nd quarter.
Headlands Technologies LLC now owns 1,707 shares of the company’s stock valued at $27,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Gates Industrial by 4.8% during the 2nd quarter.
Zurcher Kantonalbank Zurich Cantonalbank now owns 35,554 shares of the company’s stock worth $560,000 after acquiring an additional 1,616 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.
About Gates Industrial ( Get Free Report ) 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. Read More Receive News & Ratings for Gates Industrial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gates Industrial and related companies with MarketBeat.
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