Gates Industrial Corporation plc (NYSE: GTES)’s stock price has gone rise by 0.23 in comparison to its previous close of 17.30, however, the company has experienced a -1.64% decrease in its stock price over the last five trading days. PRNewsWire reported 2024-04-10 that DENVER, April 10, 2024 /PRNewswire/ — Gates Industrial Corporation plc (NYSE: GTES) will issue its first-quarter earnings release before the market opens on Wednesday, May 1, 2024. Management will host a webcast and conference call on the same day at 10:00 a.m.
Is It Worth Investing in Gates Industrial Corporation plc (NYSE: GTES) Right Now?
The price-to-earnings ratio for Gates Industrial Corporation plc (NYSE: GTES) is above average at 20.29x. The 36-month beta value for GTES is also noteworthy at 1.55. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
The public float for GTES is 189.57M, and at present, short sellers hold a 4.11% of that float. The average trading volume of GTES on April 17, 2024 was 3.01M shares.
GTES’s Market Performance
GTES’s stock has seen a -1.64% decrease for the week, with a 1.34% rise in the past month and a 30.28% gain in the past quarter. The volatility ratio for the week is 2.12%, and the volatility levels for the past 30 days are at 1.71% for Gates Industrial Corporation plc. The simple moving average for the past 20 days is -0.94% for GTES’s stock, with a 31.84% simple moving average for the past 200 days.
Analysts’ Opinion of GTES
Many brokerage firms have already submitted their reports for GTES stocks, with Wolfe Research repeating the rating for GTES by listing it as a “Outperform.” The predicted price for GTES in the upcoming period, according to Wolfe Research is $20 based on the research report published on March 08, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see GTES reach a price target of $21. The rating they have provided for GTES stocks is “Buy” according to the report published on February 29th, 2024.
KeyBanc Capital Markets gave a rating of “Overweight” to GTES, setting the target price at $18 in the report published on February 22nd of the current year.
GTES Trading at 10.44% from the 50-Day Moving Average
After a stumble in the market that brought GTES to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.91% of loss for the given period.
Volatility was left at 1.71%, however, over the last 30 days, the volatility rate increased by 2.12%, as shares surge +1.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +31.76% upper at present.
During the last 5 trading sessions, GTES fell by -1.64%, which changed the moving average for the period of 200-days by +30.18% in comparison to the 20-day moving average, which settled at $17.51. In addition, Gates Industrial Corporation plc saw 29.21% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GTES starting from Neely Wilson S, who purchase 50,000 shares at the price of $14.55 back on Feb 28 ’24. After this action, Neely Wilson S now owns 106,664 shares of Gates Industrial Corporation plc, valued at $727,500 using the latest closing price.
Neely Wilson S, the Director of Gates Industrial Corporation plc, purchase 10,000 shares at $13.24 during a trade that took place back on Feb 20 ’24, which means that Neely Wilson S is holding 56,664 shares at $132,400 based on the most recent closing price.
Stock Fundamentals for GTES
Current profitability levels for the company are sitting at:
- 0.13 for the present operating margin
- 0.38 for the gross margin
The net margin for Gates Industrial Corporation plc stands at 0.07. The total capital return value is set at 0.07. Equity return is now at value 7.38, with 3.23 for asset returns.
Based on Gates Industrial Corporation plc (GTES), the company’s capital structure generated 0.44 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 0.8. The interest coverage ratio of the stock is 2.88.
Currently, EBITDA for the company is 697.6 million with net debt to EBITDA at 2.86. When we switch over and look at the enterprise to sales, we see a ratio of 1.8. The receivables turnover for the company is 4.47for trailing twelve months and the total asset turnover is 0.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.08.
Conclusion
In summary, Gates Industrial Corporation plc (GTES) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
