That’s why I Feel Comfortable With Gates Industrial Corporation plc’s (GTES) Future

Currently, Gates Industrial Corporation plc [GTES] is trading at $13.49, up 1.73%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The GTES shares have lost -3.37% over the last week, with a monthly amount drifted -3.92%, and not seem to be holding up well over a long-time horizon.

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On 14, February 2023, Gates Industrial to Participate in Upcoming Investor Conferences. In a post published today on Yahoo Finance, Gates Industrial Corporation plc (NYSE:GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, today announced that the Company will participate in the following upcoming investor conferences:.

From an analyst’s perspective:

Gates Industrial Corporation plc [NYSE: GTES] stock has seen the most recent analyst activity on February 10, 2023, when KeyBanc Capital Markets downgraded its rating to a Sector Weight. Previously, Evercore ISI downgraded its rating to In-line on August 11, 2022, and dropped its price target to $13.50. On June 01, 2022, downgrade downgraded it’s rating to Sector Perform and revised its price target to $14 on the stock. Wolfe Research downgraded its rating to a Peer Perform. Barclays downgraded its rating to a Equal Weight and reduced its price target to $18 on December 06, 2021. Robert W. Baird started tracking with a Outperform rating for this stock on May 26, 2021, and assigned it a price target of $26. In a note dated May 19, 2021, Wolfe Research initiated an Outperform rating.

This stock has fluctuated between a low of $9.40 and a high of $16.44 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $15.85 within the next 12 months. Gates Industrial Corporation plc [NYSE: GTES] shares were valued at $13.49 at the most recent close of the market. An investor can expect a potential return of 17.49% based on the average GTES price forecast.

Analyzing the GTES fundamentals

Recent quarter sales for Gates Industrial Corporation plc [NYSE:GTES] were 893.3 billion which represents 9.50% growth. Gross Margin for this corporation currently stands at +35.25% with Operating Margin at +11.06%, Pretax Margin comes in at +7.25%, and Net Margin reading is +6.22%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 13.13 points at the first support level, and at 12.78 for the second support level. However, for the 1st resistance point, the stock is sitting at 13.69, and for the 2nd resistance point, it is at 13.89.

Gates Industrial Corporation plc [GTES] reported earnings per share of $0.25 for its fiscal quarter that ended on 12/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.23/share, meaning a difference of $0.02 and a surprise factor of 8.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2022 were $0.31 per share as compared to estimates of $0.31 per share, a difference of $0 representing a surprise of 0.00%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for Gates Industrial Corporation plc [NYSE:GTES] is 3.00. As well, the Quick Ratio is 2.15, while the Cash Ratio is 0.77. Considering the valuation of this stock, the price to sales ratio is 0.92, the price to book ratio is 1.04 and the P/E (TTM) ratio is 17.50.

Transactions by insiders

Insider trading has also been a hot topic recently, with 10 insiders purchasing 168,231 shares and 10 selling 55,221 shares in the past 3 months. Recent insider trading involved Neely Wilson S, Director, that happened on Aug 30 when 3000.0 shares were purchased. 10% Owner, Blackstone Inc completed a deal on Mar 30 to sell 13.75 million shares. Meanwhile, 10% Owner Omaha Aggregator (Cayman) L.P. sold 13.75 million shares on Mar 30.