Gates Industrial Corporation plc [NYSE: GTES] gained 0.59% on the last trading session, reaching $15.46 price per share at the time. The company report on March 6, 2024 at 9:05 AM that Gates Offers Advanced Solutions for Data Center Cooling.
Gates (NYSE: GTES), a global manufacturer of innovative, highly engineered power transmission and fluid power solutions announces its collaboration and entry into the fast-growing and evolving data center cooling market with CoolIT Systems.
CoolIT Systems is the world leader in scalable liquid cooling technology for the world’s most demanding computing environments. To meet the surging demand in the AI, high-performance computing (HPC) and enterprise markets, CoolIT is working with Gates to develop the most efficient and reliable liquid cooling solutions available today. The partnership includes developing advanced solutions and tightens the supply chain between Gates strong North America based operations and CoolIT’s Calgary, Canada manufacturing hub, to support the expected market growth.
If compared to the average trading volume of 2.55M shares, GTES reached a trading volume of 3647050 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $16.56 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 2.10. 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.
Jefferies have made an estimate for Gates Industrial Corporation plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 29, 2024. The new note on the price target was released on February 22, 2024, representing the official price target for Gates Industrial Corporation plc stock. Previously, the target price had yet another raise to $14.50, while Goldman analysts kept a Neutral rating on GTES stock.
The Average True Range (ATR) for Gates Industrial Corporation plc is set at 0.39, with the Price to Sales ratio for GTES stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 1.27, 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 9.73 with Quick ratio for the last quarter at 2.25.
Trading performance analysis for GTES stock
Gates Industrial Corporation plc [GTES] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.03. With this latest performance, GTES shares gained by 17.30% in over the last four-week period, additionally plugging by 27.35% over the last 6 months – not to mention a rise of 9.57% 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 75.67, with the RSI for the last a single of trading hit 79.87, and the three-weeks RSI is set at 72.32 for Gates Industrial Corporation plc [GTES]. The present Moving Average for the last 50 days of trading for this stock 13.54, while it was recorded at 15.05 for the last single week of trading, and 12.52 for the last 200 days.
Gates Industrial Corporation plc [GTES]: A deeper dive into fundamental analysis
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.
Gates Industrial Corporation plc [GTES]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at 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%.
