In a report released today, Jeffrey Hammond from KeyBanc maintained a Buy rating on Gates Industrial (GTES – Research Report). The company’s shares closed yesterday at $19.30.
According to TipRanks, Hammond is a 5-star analyst with an average return of 10.2% and a 58.59% success rate. Hammond covers the Industrials sector, focusing on stocks such as ITT, Regal Rexnord, and nVent Electric.
In addition to KeyBanc, Gates Industrial also received a Buy from RBC Capital’s Deane Dray in a report issued on October 16. However, yesterday, Morgan Stanley maintained a Hold rating on Gates Industrial (NYSE: GTES).
GTES market cap is currently $5.44B and has a P/E ratio of 20.41.
Based on the recent corporate insider activity of 51 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.
