Gates Industrial Corp PLC (NYSE:GTES)’s share price hit a new 52-week low on Friday . The company traded as low as $12.19 and last traded at $12.22, with a volume of 280779 shares. The stock had previously closed at $12.81.
GTES has been the topic of a number of research analyst reports. ValuEngine upgraded Gates Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Zacks Investment Research lowered Gates Industrial from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Morgan Stanley set a $16.00 target price on Gates Industrial and gave the stock a “hold” rating in a research note on Thursday, February 14th. Barclays restated a “hold” rating and issued a $17.00 target price on shares of Gates Industrial in a research note on Thursday, May 9th. Finally, TheStreet upgraded Gates Industrial from a “d+” rating to a “c-” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.20.
The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $3.68 billion, a PE ratio of 9.55 and a beta of 1.74.
Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Gates Industrial had a return on equity of 15.57% and a net margin of 25.29%. The firm had revenue of $804.90 million during the quarter, compared to analysts’ expectations of $844.21 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. Gates Industrial’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts expect that Gates Industrial Corp PLC will post 1.18 EPS for the current year.
In other news, EVP Grant Gawronski acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $13.08 per share, for a total transaction of $65,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Walter Lifsey acquired 76,050 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average price of $13.08 per share, with a total value of $994,734.00. The disclosure for this purchase can be found here. Insiders bought a total of 82,050 shares of company stock valued at $1,073,474 over the last quarter. Company insiders own 0.68% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Wright Investors Service Inc. increased its position in Gates Industrial by 7.9% during the 4th quarter. Wright Investors Service Inc. now owns 11,459 shares of the company’s stock valued at $152,000 after buying an additional 840 shares in the last quarter. Diversified Trust Co increased its position in Gates Industrial by 7.2% during the 4th quarter. Diversified Trust Co now owns 12,980 shares of the company’s stock valued at $172,000 after buying an additional 870 shares in the last quarter. Legal & General Group Plc increased its position in Gates Industrial by 7.3% during the 4th quarter. Legal & General Group Plc now owns 15,298 shares of the company’s stock valued at $203,000 after buying an additional 1,040 shares in the last quarter. Quantamental Technologies LLC increased its position in Gates Industrial by 146.7% during the 1st quarter. Quantamental Technologies LLC now owns 3,700 shares of the company’s stock valued at $53,000 after buying an additional 2,200 shares in the last quarter. Finally, Parallel Advisors LLC bought a new position in Gates Industrial during the 1st quarter valued at approximately $33,000.
About Gates Industrial (NYSE:GTES)
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.
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