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Analysts Offer Insights on Industrial Goods Companies: Copart (CPRT) and Gates Industrial (GTES)

There’s a lot to be optimistic about in the Industrial Goods sector as 2 analysts just weighed in on Copart (CPRTResearch Report) and Gates Industrial (GTESResearch Report) with bullish sentiments.

Copart (CPRT)

In a report issued on March 11, Craig Kennison from Robert W. Baird maintained a Buy rating on Copart, with a price target of $58.00. The company’s shares closed last Tuesday at $55.19, close to its 52-week high of $55.83.

According to TipRanks.com, Kennison is a 4-star analyst with an average return of 6.1% and a 53.9% success rate. Kennison covers the NA sector, focusing on stocks such as MasterCraft Boat Holdings, Camping World Holdings, and Winnebago Industries.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Copart with a $54.67 average price target.

See today’s best-performing stocks on TipRanks >>

Gates Industrial (GTES)

Robert W. Baird analyst Michael Halloran maintained a Buy rating on Gates Industrial on March 11 and set a price target of $18.00. The company’s shares closed last Tuesday at $17.09.

According to TipRanks.com, Halloran is a 5-star analyst with an average return of 11.7% and a 62.0% success rate. Halloran covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Emerson Electric Company, and Watts Water Technologies.

Currently, the analyst consensus on Gates Industrial is a Moderate Buy with an average price target of $17.67, representing a 4.9% upside. In a report issued on February 29, Jefferies also initiated coverage with a Buy rating on the stock with a $21.00 price target.

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