In a report released today, Joshua Pokrzywinski from Morgan Stanley maintained a Hold rating on Gates Industrial (GTES), with a price target of $18.00. The company’s shares closed last Monday at $16.90, close to its 52-week high of $18.22.
According to TipRanks.com, Pokrzywinski is a 4-star analyst with an average return of 11.2% and a 62.1% success rate. Pokrzywinski covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Emerson Electric Company, and Honeywell International.
Currently, the analyst consensus on Gates Industrial is a Strong Buy with an average price target of $19.75.
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Gates Industrial’s market cap is currently $4.92B and has a P/E ratio of 63.20. The company has a Price to Book ratio of -4.33.
Based on the recent corporate insider activity of 27 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.
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. 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.
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