The stock price of Gates Industrial Corporation plc (NYSE: GTES) has plunged by -1.24 when compared to previous closing price of 17.80, but the company has seen a 1.62% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-10-08 that DENVER, Oct. 8, 2024 /PRNewswire/ — Gates Industrial Corporation plc (NYSE: GTES) will issue its third-quarter earnings release before the market opens on Wednesday, October 30, 2024. Management will host a webcast and conference call on the same day at 11:00 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 18.59x, Company’s 36-month beta value is 1.40.Analysts have differing opinions on the stock, with 7 analysts rating it as a “buy,” 1 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for GTES is 257.68M, and currently, short sellers hold a 3.37% ratio of that floaft. The average trading volume of GTES on October 16, 2024 was 3.44M shares.
GTES’s Market Performance
GTES’s stock has seen a 1.62% increase for the week, with a 2.51% rise in the past month and a 0.57% gain in the past quarter. The volatility ratio for the week is 1.66%, and the volatility levels for the past 30 days are at 2.16% for Gates Industrial Corporation plc The simple moving average for the last 20 days is 0.12% for GTES stock, with a simple moving average of 8.32% for the last 200 days.
Analysts’ Opinion of GTES
Many brokerage firms have already submitted their reports for GTES stocks, with Morgan Stanley repeating the rating for GTES by listing it as a “Equal-Weight.” The predicted price for GTES in the upcoming period, according to Morgan Stanley is $19 based on the research report published on September 06, 2024 of the current year 2024.
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see GTES reach a price target of $22, previously predicting the price at $20. The rating they have provided for GTES stocks is “Outperform” according to the report published on August 19th, 2024.
Wolfe Research gave a rating of “Outperform” to GTES, setting the target price at $20 in the report published on March 08th of the current year.
GTES Trading at 1.70% 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 -7.81% of loss for the given period.
Volatility was left at 2.16%, however, over the last 30 days, the volatility rate increased by 1.66%, as shares surge +0.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.79% upper at present.
During the last 5 trading sessions, GTES rose by +1.62%, which changed the moving average for the period of 200-days by +30.51% in comparison to the 20-day moving average, which settled at $17.56. In addition, Gates Industrial Corporation plc saw 31.00% 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 11,952 shares at the price of $16.80 back on Aug 21 ’24. After this action, Neely Wilson S now owns 6,000 shares of Gates Industrial Corporation plc, valued at $200,794 using the latest closing price.
Blackstone Inc., the 10% Owner of Gates Industrial Corporation plc, sale 30,539,203 shares at $16.58 during a trade that took place back on Aug 21 ’24, which means that Blackstone Inc. is holding 31,805 shares at $506,339,986 based on the most recent closing price.
Stock Fundamentals for GTES
Current profitability levels for the company are sitting at:
- 0.15 for the present operating margin
- 0.39 for the gross margin
The net margin for Gates Industrial Corporation plc stands at 0.07. The total capital return value is set at 0.08. Equity return is now at value 8.10, with 3.53 for asset returns.
Based on Gates Industrial Corporation plc (GTES), the company’s capital structure generated 0.42 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 0.73. The interest coverage ratio of the stock is 3.56.
Currently, EBITDA for the company is 697.6 million with net debt to EBITDA at 2.73. When we switch over and look at the enterprise to sales, we see a ratio of 1.96. The receivables turnover for the company is 4.04for trailing twelve months and the total asset turnover is 0.5. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.11.
Conclusion
In a nutshell, Gates Industrial Corporation plc (GTES) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
