Gates Industrial Corp PLC (NYSE:GTES) has earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.13.
A number of analysts have issued reports on GTES shares. UBS started coverage on Gates Industrial in a report on Tuesday, February 20th. They set a “buy” rating and a $22.00 price target for the company. Citigroup started coverage on Gates Industrial in a report on Tuesday, February 20th. They set a “buy” rating and a $23.00 price target for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $24.00 price target on shares of Gates Industrial in a report on Wednesday, March 14th. Barclays started coverage on Gates Industrial in a report on Wednesday, March 21st. They set an “equal weight” rating and a $20.00 price target for the company. Finally, Goldman Sachs started coverage on Gates Industrial in a report on Monday, February 19th. They set a “neutral” rating and a $21.00 price target for the company.
GTES traded up $0.15 on Wednesday, hitting $15.91. 168,699 shares of the company were exchanged, compared to its average volume of 799,876. Gates Industrial has a twelve month low of $15.69 and a twelve month high of $20.00. The stock has a market capitalization of $4,475.43 and a price-to-earnings ratio of 19.38. The company has a debt-to-equity ratio of 2.79, a current ratio of 2.62 and a quick ratio of 1.96.
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About Gates Industrial
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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