In a report released today, Julian Mitchell from Barclays maintained a Hold rating on Gates Industrial (GTES – Research Report), with a price target of $16.00. The company’s shares closed yesterday at $17.41.
According to TipRanks, Mitchell is a top 100 analyst with an average return of 17.0% and a 67.74% success rate. Mitchell covers the Industrials sector, focusing on stocks such as Honeywell International, Stanley Black & Decker, and 3M.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gates Industrial with a $20.31 average price target, a 16.66% upside from current levels. In a report released on September 17, Morgan Stanley also maintained a Hold rating on the stock with a $18.50 price target.
The company has a one-year high of $19.07 and a one-year low of $10.68. Currently, Gates Industrial has an average volume of 3.55M.
Based on the recent corporate insider activity of 47 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.
Read More on GTES:
- Gates Industrial initiated with an Equal Weight at Morgan Stanley
- Gates Industrial Announces Executive Appointment and Share Offering
- Apple, Lineage, OneStream initiated: Wall Street’s top analyst calls
- Gates Industrial upgraded to Outperform from Sector Perform at RBC Capital
- Gates Industrial 20M share Spot Secondary; price range $16.55-$16.95
