Gates Industrial Corporation plc [NYSE: GTES] slipped around -0.03 points on Tuesday, while shares priced at $12.77 at the close of the session, down -0.23%. The company report on February 13, 2024 at 10:15 AM that GATES NAMED TO NEWSWEEK’S AMERICA’S GREATEST WORKPLACES 2024 FOR DIVERSITY.
Award recognizes Gates’ impact and commitment to fostering a safe and empowering work environment for all.
Gates (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions, humbly announces its recognition as one of America’s Greatest Workplaces for Diversity 2024 by Newsweek and Plant-A Insights Group. This prestigious acknowledgment is the result of a survey involving over 220,000 individuals and encompassing representation of over 1.5 million company reviews across America.
Compared to the average trading volume of 1.93M shares, GTES reached a trading volume of 11764121 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Gates Industrial Corporation plc [GTES]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GTES shares is $15.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GTES stock is a recommendation set at 2.44. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Gates Industrial Corporation plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 20, 2023.
The Average True Range (ATR) for Gates Industrial Corporation plc is set at 0.34, with the Price to Sales ratio for GTES stock in the period of the last 12 months amounting to 0.95. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 2.74. Price to Free Cash Flow for GTES in the course of the last twelve months was 8.04 with Quick ratio for the last quarter at 2.25.
How has GTES stock performed recently?
Gates Industrial Corporation plc [GTES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.11. With this latest performance, GTES shares dropped by -5.62% in over the last four-week period, additionally plugging by 9.52% over the last 6 months – not to mention a drop of -7.93% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GTES stock in for the last two-week period is set at 45.05, with the RSI for the last a single of trading hit 42.28, and the three-weeks RSI is set at 47.73 for Gates Industrial Corporation plc [GTES]. The present Moving Average for the last 50 days of trading for this stock 12.91, while it was recorded at 12.81 for the last single week of trading, and 12.44 for the last 200 days.
Gates Industrial Corporation plc [GTES]: Deeper insight into the fundamentals
Gates Industrial Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.25 and a Current Ratio set at 3.08.
Earnings analysis for Gates Industrial Corporation plc [GTES]
With the latest financial reports released by the company, Gates Industrial Corporation plc posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GTES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Gates Industrial Corporation plc go to 10.50%.
Insider trade positions for Gates Industrial Corporation plc [GTES]
The top three institutional holders of GTES stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GTES stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GTES stock with ownership which is approximately 5.8325%.
