Gates Industrial (NYSE:GTES) Target Raised by Morgan Stanley to $11.00

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Gates Industrial stock has undergone multiple analysts rating changes in the recent past.  Gates Industrial stock Target Raised by   Morgan Stanley on 6/30/2020. In a note to investors, the firm issued a new target price of $11.00. The analysts previously had $9.00 target price. Morgan Stanley’s price target would indicate a potential upside of 8.48% from the stock’s previous close.

Shares of Gates Industrial traded up $0.20 on Tuesday, reaching $10.34. 192414 shares of the stock traded hands, compared to its average volume of 285878. Shares of were trading at $10.34 on Tuesday. The firm’s 50 day moving average is $$9.55 and its 200 day moving average is $10.50.Gates Industrial  has a 12 month low of $10.10 and a 12 month high of $14.30. While on yearly highs and lows, Gates Industrial today has traded high as $10.40 and has touched $10.10 on the downward trend.

Gates Industrial Earnings and What to expect: 

Gates Industrial last posted its earnings results on May 5th, 2020. The reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $710.10 million for the quarter, compared to analysts’ expectations of $711.28 million. Its revenue was down 11.8% compared to the same quarter last year. Gates Industrial has generated $0.91 earnings per share over the last year and currently has a price-to-earnings ratio of 27.1. Gates Industrial has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, August 4th, 2020 based off prior year’s report dates.

Earnings for Gates Industrial are expected to grow by 113.79% in the coming year, from $0.29 to $0.62 per share. The P/E ratio of Gates Industrial is 27.11, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 16.26. The P/E ratio of Gates Industrial is 27.11, which means that it is trading at a less expensive P/E ratio than the Construction sector average P/E ratio of about 37.57. Gates Industrial has a P/B Ratio of 0.99. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Latest Insiders Trading and Volume : 

  • Insider Ownership Percentage: 0.76%
  • On 5/22/2020 Major Shareholder Blackstone Group Inc Buy 13,700 at average share price of $10.12 which equates to $138,644.00 in money value.
  • On 5/20/2020 Major Shareholder Blackstone Group Inc Buy 112,800 at average price of  $9.56 with total value of : Not Data Available
  • On 5/18/2020 Major Shareholder Aggregator (Cayman) L.P. Omaha Buy 100,300 at average price of  $9.54 with total value of : $956,862.00
  • See More Analyst Rating at: RATING

Other Analyst’s rating for Gates Industrial

  • 6/25/2020 – Gates Industrial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating.
  • 6/19/2020 – Gates Industrial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating.
  • 5/8/2020 – Gates Industrial had its price target raised by analysts at UBS Group AG from $7.50 to $8.00. They now have a “neutral” rating on the stock.
  • 5/7/2020 – Gates Industrial had its price target raised by analysts at Credit Suisse Group AG from $8.00 to $9.50. They now have an “outperform” rating on the stock.
  • See More Analyst Rating at: RATING

Other rating updates by Morgan Stanley: 

  • 6/30/2020 – Emerson Electric had its price target raised by analysts at Morgan Stanley from $54.00 to $59.00. They now have an “equal weight” rating on the stock.
  • 6/30/2020 – Plug Power had its price target raised by analysts at Morgan Stanley from $6.00. They now have an “equal weight” rating on the stock.
  • 6/30/2020 – Restaurant Brands International had its price target raised by analysts at Morgan Stanley from $60.00 to $62.00. They now have an “overweight” rating on the stock.
  • 6/30/2020 – Rockwell Automation had its price target raised by analysts at Morgan Stanley from $177.00 to $220.00. They now have an “equal weight” rating on the stock.
  • See More Analyst Rating at: RATING

Gates Industrial (NYSE:GTES) Moving Average Technical Analysis

5 day Moving Average is $$10.04 And 5 day price change is -$0.08 (-0.80%)  with average volume for 5 day average is 241,969. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $10.63 and 20 day price change is $0.05 (0.47%) and average 20 day moving volume is 267,597. 50 day moving average is $9.55  and 50 day price change is $3.09 ( 43.00%)  and with average volume for 50 days is : 326,615. 200 day moving average is $10.50  and 200 day price change is -$0.10 (-0.99%)  and with average volume for 200 days is : 366,999.

See More Analyst Rating at: RATING