Currently, Gates Industrial Corporation plc [GTES] is trading at $15.37, up 4.56%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The GTES shares have gain 6.00% over the last week, with a monthly amount glided 16.88%, and seem to be holding up well over a long-time horizon.
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On 6, March 2024, Gates Offers Advanced Solutions for Data Center Cooling. In a post published today on Yahoo Finance, Gates (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions announces its collaboration and entry into the fast-growing and evolving data center cooling market with CoolIT Systems.
From an analyst’s perspective:
Gates Industrial Corporation plc [NYSE: GTES] stock has seen the most recent analyst activity on February 29, 2024, when Jefferies initiated its Buy rating and assigned the stock a price target of $21. Previously, KeyBanc Capital Markets upgraded its rating to Overweight on February 22, 2024, and kept the price target unchanged to $18. On June 20, 2023, downgrade downgraded it’s rating to Neutral but maintained its price target of $14.50 on the stock. KeyBanc Capital Markets downgraded its rating to a Sector Weight. Evercore ISI downgraded its rating to a In-line and reduced its price target to $13.50 on August 11, 2022. RBC Capital Mkts downgraded its rating to Sector Perform for this stock on June 01, 2022, and downed its price target to $14. In a note dated April 06, 2022, Wolfe Research downgraded an Peer Perform rating on this stock.
This stock has fluctuated between a low of $10.68 and a high of $15.18 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $14.8 within the next 12 months. Gates Industrial Corporation plc [NYSE: GTES] shares were valued at $15.37 at the most recent close of the market. An investor can expect a potential drop of -3.71% based on the average GTES price forecast.
Analyzing the GTES fundamentals
Trailing Twelve Months sales for Gates Industrial Corporation plc [NYSE:GTES] were 3.57B which represents -3.36% decline. Gross Profit Margin for this corporation currently stands at 0.38% with Operating Profit Margin at 0.13%, Pretax Profit Margin comes in at 0.08%, and Net Profit Margin reading is 0.07%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.07 and Total Capital is 0.07. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.8.
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 14.96 points at the first support level, and at 14.54 for the second support level. However, for the 1st resistance point, the stock is sitting at 15.60, and for the 2nd resistance point, it is at 15.82.
Gates Industrial Corporation plc [GTES] reported earnings per share of $0.39 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.28/share, meaning a difference of $0.11 and a surprise factor of 39.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.35 per share as compared to estimates of $0.31 per share, a difference of $0.04 representing a surprise of 12.90%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Gates Industrial Corporation plc [NYSE:GTES] is 3.08. Further, the Quick Ratio stands at 2.25, while the Cash Ratio is 0.92. Considering the valuation of this stock, the price to sales ratio is 1.14, the price to book ratio is 1.26 and price to earnings (TTM) ratio is 17.98.
Transactions by insiders
Recent insider trading involved Neely Wilson S, Director, that happened on Feb 28 ’24 when 50000.0 shares were purchased. Director, Neely Wilson S completed a deal on Feb 20 ’24 to buy 10000.0 shares. Meanwhile, Director SIMPKINS NEIL P bought 1.0 million shares on Feb 16 ’24.
