Barclays Reaffirms Their Hold Rating on Gates Industrial Corp Plc (GTES)


In a report issued on June 3, Julian Mitchell from Barclays maintained a Hold rating on Gates Industrial Corp Plc (GTES), with a price target of $13. The company’s shares opened today at $11.51, close to its 52-week low of $11.02.

According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 12.2% and a 75.3% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Gardner Denver Holdings Inc, Emerson Electric Company, and United Technologies Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gates Industrial Corp Plc with a $15.50 average price target.

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Gates Industrial Corp Plc’s market cap is currently $3.34B and has a P/E ratio of 4.06. The company has a Price to Book ratio of 1.30.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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 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.

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