RBC Capital analyst Deane Dray maintained a Hold rating on Gates Industrial (GTES – Research Report) yesterday and set a price target of $13.00. The company’s shares closed yesterday at $12.53.
According to TipRanks, Dray is a top 100 analyst with an average return of 14.6% and a 65.53% success rate. Dray covers the Industrials sector, focusing on stocks such as Honeywell International, Johnson Controls, and Carrier Global.
In addition to RBC Capital, Gates Industrial also received a Hold from KeyBanc’s Jeffrey Hammond in a report issued today. However, on the same day, Robert W. Baird maintained a Buy rating on Gates Industrial (NYSE: GTES).
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GTES market cap is currently $3.5B and has a P/E ratio of 14.58.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GTES in relation to earlier this year.
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Gates Industrial (GTES) Company Description:
Gates Industrial Corp. Plc is a holding company, which engages in the manufacture of engineered power transmission and fluid solutions. It operates through the following segments: Power Transmission and Fluid Power. The Power Transmission segment includes elastomer drive belts, and related components used to efficiently transfer motion in a broad range of applications. The Fluid Power segment comprises of hoses, tubing, and fittings designed to convey hydraulic fluid at high-pressures in both mobile and stationary applications, and high-pressure and fluid transfer hoses used to convey various fluids. The company was founded on September 25, 2017 and is headquartered in Denver, CO.
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