Barclays analyst Julian Mitchell maintained a Hold rating on Gates Industrial (GTES – Research Report) yesterday and set a price target of $17.00. The company’s shares closed yesterday at $16.47.
Mitchell covers the Industrials sector, focusing on stocks such as General Electric, 3M, and Dover. According to TipRanks, Mitchell has an average return of 15.9% and a 66.13% success rate on recommended stocks.
Gates Industrial has an analyst consensus of Moderate Buy, with a price target consensus of $17.88, representing an 8.56% upside. In a report released on March 5, RBC Capital also maintained a Hold rating on the stock with a $13.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
GTES market cap is currently $4.29B and has a P/E ratio of 19.27.
Based on the recent corporate insider activity of 53 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on GTES:
