In yesterday’s Wall Street session, Gates Industrial Corporation plc (NYSE:GTES) shares traded at $17.57, down -1.35% from the previous session.
GTES stock price is now 6.14% away from the 50-day moving average and 15.78% away from the 200-day moving average. The market capitalization of the company currently stands at $4.60B.
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With the price target enhanced from $20 to $22, RBC Capital Mkts Upgraded its rating from Sector Perform to Outperform for Gates Industrial Corporation plc (NYSE: GTES). On March 08, 2024, Wolfe Research Upgraded its previous ‘Peer Perform’ rating to ‘Outperform’ on the stock keeping its target price maintained at $20, while ‘Jefferies’ rates the stock as ‘Buy’
In other news, Blackstone Inc., 10% Owner sold 20,125,000 shares of the company’s stock on May 21 ’24. The stock was sold for $328,641,250 at an average price of $16.33. Upon completion of the transaction, the 10% Owner now directly owns 77,326 shares in the company, valued at $1.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 21 ’24, 10% Owner Omaha Aggregator (Cayman) L.P. sold 20,125,000 shares of the business’s stock. A total of $328,641,250 was realized by selling the stock at an average price of $16.33. This leaves the insider owning 77,326 shares of the company worth $1.36 million. A total of 20.87% of the company’s stock is owned by insiders.
During the past 12 months, Gates Industrial Corporation plc has had a low of $10.68 and a high of $19.07. As of last week, the company has a debt-to-equity ratio of 0.77, a current ratio of 3.11, and a quick ratio of 2.20. According to the stock market information, the enterprise value for the company is $6763835392, which is based on a 18.58 price-to-earnings ratio, a 1.69 price-to-earnings-growth ratio, and a beta of 1.41. The fifty day moving average price for GTES is $16.5756 and a two-hundred day moving average price translates $15.20895 for the stock.
The latest earnings results from Gates Industrial Corporation plc (NYSE: GTES) was released for 2024-06-29. The net profit margin was 7.26% and return on equity was 8.10% for GTES. The company reported revenue of $885.5 million for the quarter, compared to $936.3 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.43 percent.
