Gates Industrial Corporation PLC (NYSE:GTES) Sees Large Drop in Short Interest
by Doug Wharley · The Cerbat GemGates Industrial Corporation PLC (NYSE:GTES – Get Free Report) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 8,238,677 shares, a decline of 18.1% from the January 29th total of 10,055,997 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average trading volume of 3,738,837 shares, the short-interest ratio is presently 2.2 days. Based on an average trading volume of 3,738,837 shares, the short-interest ratio is presently 2.2 days. Currently, 3.3% of the shares of the stock are sold short.
Gates Industrial Trading Down 4.3%
Shares of GTES stock traded down $1.18 during trading hours on Tuesday, reaching $26.42. 1,965,420 shares of the stock traded hands, compared to its average volume of 2,892,520. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $6.71 billion, a PE ratio of 27.24 and a beta of 1.23. Gates Industrial has a 1-year low of $14.70 and a 1-year high of $28.47. The business has a fifty day moving average price of $24.46 and a 200 day moving average price of $24.10.
Gates Industrial (NYSE:GTES – Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The firm had revenue of $856.20 million for the quarter, compared to analysts’ expectations of $853.35 million. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities research analysts forecast that Gates Industrial will post 1.36 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on GTES. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Wells Fargo & Company initiated coverage on shares of Gates Industrial in a report on Thursday, November 13th. They set an “equal weight” rating and a $23.00 target price for the company. Citigroup upped their price target on Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Finally, Robert W. Baird set a $39.00 price objective on Gates Industrial in a research report on Friday, February 13th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.27.
View Our Latest Analysis on GTES
Institutional Investors Weigh In On Gates Industrial
A number of institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH purchased a new stake in Gates Industrial in the 3rd quarter worth approximately $2,033,000. Caprock Group LLC acquired a new position in shares of Gates Industrial in the third quarter worth $1,695,000. New York State Common Retirement Fund increased its stake in shares of Gates Industrial by 33.4% in the third quarter. New York State Common Retirement Fund now owns 1,381,075 shares of the company’s stock worth $34,278,000 after acquiring an additional 345,552 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Gates Industrial during the third quarter worth $4,472,000. Finally, Handelsbanken Fonder AB boosted its position in Gates Industrial by 61.4% during the third quarter. Handelsbanken Fonder AB now owns 2,182,100 shares of the company’s stock valued at $54,160,000 after purchasing an additional 830,000 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.
Gates Industrial Company Profile
Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.
In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.