A share price of Gates Industrial Corporation plc [GTES] is currently trading at $17.29, up 0.35%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The GTES shares have gain 7.93% over the last week, with a monthly amount glided 6.20%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Gates Industrial Corporation plc [NYSE: GTES] stock has seen the most recent analyst activity on March 08, 2024, when Wolfe Research upgraded its rating to a Outperform but kept the price target unchanged to $20 for it. Previously, Jefferies started tracking the stock with Buy rating on February 29, 2024, and set its price target to $21. On February 22, 2024, upgrade upgraded it’s rating to Overweight but maintained its price target of $18 on the stock. Goldman downgraded its rating to a Neutral but stick to its price target of $14.50 on June 20, 2023. KeyBanc Capital Markets downgraded its rating to a Sector Weight. Evercore ISI downgraded its rating to In-line for this stock on August 11, 2022, and downed its price target to $13.50. In a note dated June 01, 2022, RBC Capital Mkts downgraded an Sector Perform rating on this stock and revised its target price from $17 to $14.
Gates Industrial Corporation plc experienced fluctuations in its stock price throughout the past year between $10.68 and $17.99. Currently, Wall Street analysts expect the stock to reach $16.57 within the next 12 months. Gates Industrial Corporation plc [NYSE: GTES] shares were valued at $17.29 at the most recent close of the market. An investor can expect a potential drop of -4.16% based on the average GTES price forecast.
Analyzing the GTES fundamentals
Trailing Twelve Months sales for Gates Industrial Corporation plc [NYSE:GTES] were 3.54B which represents -3.91% decline. Gross Profit Margin for this corporation currently stands at 0.39% with Operating Profit Margin at 0.14%, Pretax Profit Margin comes in at 0.09%, 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 0.08 and Total Capital is 0.08. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.74.
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 17.10 points at the first support level, and at 16.90 for the second support level. However, for the 1st resistance point, the stock is sitting at 17.51, and for the 2nd resistance point, it is at 17.72.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Gates Industrial Corporation plc [NYSE:GTES] is 3.06. As well, the Quick Ratio is 2.15, while the Cash Ratio is 0.7. Considering the valuation of this stock, the price to sales ratio is 1.28, the price to book ratio is 1.42 and price to earnings (TTM) ratio is 18.96.
Transactions by insiders
Recent insider trading involved Blackstone Inc., 10% Owner, that happened on May 21 ’24 when 20.12 million shares were sold. 10% Owner, Omaha Aggregator (Cayman) L.P. completed a deal on May 21 ’24 to sell 20.12 million shares. Meanwhile, 10% Owner BX GATES ML-1 HOLDCO LLC sold 20.12 million shares on May 21 ’24.
