Stock analysts at UBS Group initiated coverage on shares of Gates Industrial (NYSE:GTES) in a report released on Tuesday, February 20th, 99wallstreet.com reports. The firm set a “buy” rating and a $22.00 price target on the stock. UBS Group’s target price suggests a potential upside of 22.15% from the stock’s previous close.
A number of other brokerages also recently weighed in on GTES. Goldman Sachs Group started coverage on shares of Gates Industrial in a report on Monday, February 19th. They issued a “neutral” rating and a $21.00 price target on the stock. Citigroup started coverage on shares of Gates Industrial in a report on Tuesday, February 20th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, KeyCorp started coverage on Gates Industrial in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $22.14.
Gates Industrial (GTES) traded up $0.06 during midday trading on Tuesday, reaching $18.01. 2,192,760 shares of the company traded hands, compared to its average volume of 826,884. Gates Industrial has a twelve month low of $16.60 and a twelve month high of $20.00. The firm has a market cap of $5,110.00 and a P/E ratio of 150.08.
Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Tuesday, March 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). analysts forecast that Gates Industrial will post 0.73 EPS for the current fiscal year.
Gates Industrial Company Profile
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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