Barclays Keeps Their Hold Rating on Gates Industrial (GTES)

In a report released today, Julian Mitchell from Barclays maintained a Hold rating on Gates Industrial (GTES – Research Report), with a price target of $17.00. The company’s shares closed last Friday at $16.18.

Mitchell covers the Industrials sector, focusing on stocks such as 3M, Ingersoll Rand, and Gates Industrial. According to TipRanks, Mitchell has an average return of 14.6% and a 63.91% success rate on recommended stocks.

Gates Industrial has an analyst consensus of Moderate Buy, with a price target consensus of $19.78, a 22.25% upside from current levels. In a report released on May 1, RBC Capital also assigned a Hold rating to the stock with a $19.00 price target.

GTES market cap is currently $4.23B and has a P/E ratio of 17.75.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock.

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Gates Industrial (GTES) Company Description:

Gates Industrial Corp. Plc is a holding company, which engages in the manufacture of engineered power transmission and fluid solutions. It operates through the following segments: Power Transmission and Fluid Power. The Power Transmission segment includes elastomer drive belts, and related components used to efficiently transfer motion in a broad range of applications. The Fluid Power segment comprises of hoses, tubing, and fittings designed to convey hydraulic fluid at high-pressures in both mobile and stationary applications, and high-pressure and fluid transfer hoses used to convey various fluids. The company was founded on September 25, 2017 and is headquartered in Denver, CO.