Gates Industrial Corporation plc [NYSE: GTES] slipped around -0.1 points on Thursday, while shares priced at $17.33 at the close of the session, down -0.57%.
Compared to the average trading volume of 3.46M shares, GTES reached a trading volume of 2270932 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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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 $20.32 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 1.82. 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.
Morgan Stanley have made an estimate for Gates Industrial Corporation plc shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on September 06, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $20 to $22. The new note on the price target was released on August 19, 2024, representing the official price target for Gates Industrial Corporation plc stock. Previously, the target price had yet another raise to $20, while Wolfe Research analysts kept a Outperform rating on GTES stock.
The Average True Range (ATR) for Gates Industrial Corporation plc is set at 0.41, with the Price to Sales ratio for GTES stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 2.06. Price to Free Cash Flow for GTES in the course of the last twelve months was 16.53 with Quick ratio for the last quarter at 2.20.
How has GTES stock performed recently?
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 0.12. With this latest performance, GTES shares gained by 3.83% in over the last four-week period, additionally sinking by -0.52% over the last 6 months – not to mention a rise of 51.88% 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 49.13, with the RSI for the last a single of trading hit 46.98, and the three-weeks RSI is set at 50.20 for Gates Industrial Corporation plc [GTES]. The present Moving Average for the last 50 days of trading for this stock 17.24, while it was recorded at 17.41 for the last single week of trading, and 16.17 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 2.20 and a Current Ratio set at 3.11.
Earnings analysis for Gates Industrial Corporation plc [GTES]
With the latest financial reports released by the company, Gates Industrial Corporation plc posted 0.35/share EPS, while the average EPS was predicted by analysts to be reported at 0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.04. 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 11.00%.
Insider trade positions for Gates Industrial Corporation plc [GTES]
There are presently around $93.35%, or 94.24%% of GTES stock, in the hands of institutional investors. The top three institutional holders of GTES stocks are: BLACKSTONE INC. with ownership of 51.88 million shares, which is approximately 19.8427%. VANGUARD GROUP INC, holding 20.36 million shares of the stock with an approximate value of $$321.96 million in GTES stocks shares; and VANGUARD GROUP INC, currently with $$231.24 million in GTES stock with ownership which is approximately 5.5944%.
