The stock of Gates Industrial Corporation plc (NYSE:GTES) last traded at $21.35, up 5.48% from the previous session.
GTES stock price is now 19.38% away from the 50-day moving average and 27.91% away from the 200-day moving average. The market capitalization of the company currently stands at $5.44B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $19, Morgan Stanley recently initiated with Equal-Weight rating for Gates Industrial Corporation plc (NYSE: GTES). On August 19, 2024, RBC Capital Mkts Upgraded its previous ‘Sector Perform’ rating to ‘Outperform’ on the stock increasing its target price from $20 to quote $22, while ‘Wolfe Research’ rates the stock as ‘Outperform’
In other news, Neely Wilson S, Director bought 11,952 shares of the company’s stock on Aug 21 ’24. The stock was bought for $200,794 at an average price of $16.80. Upon completion of the transaction, the Director now directly owns 6,000 shares in the company, valued at $0.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 21 ’24, 10% Owner Blackstone Inc. sold 30,539,203 shares of the business’s stock. A total of $506,339,986 was realized by selling the stock at an average price of $16.58. This leaves the insider owning 31,805 shares of the company worth $0.68 million. A total of 8.50% of the company’s stock is owned by insiders.
During the past 12 months, Gates Industrial Corporation plc has had a low of $11.11 and a high of $20.40. As of last week, the company has a debt-to-equity ratio of 0.80, a current ratio of 3.02, and a quick ratio of 2.11. According to the stock market information, the enterprise value for the company is $7715526144, which is based on a 25.64 price-to-earnings ratio, a 2.33 price-to-earnings-growth ratio, and a beta of 1.37. The fifty day moving average price for GTES is $17.813 and a two-hundred day moving average price translates $16.6484 for the stock.
The latest earnings results from Gates Industrial Corporation plc (NYSE: GTES) was released for 2024-09-28. The net profit margin was 6.44% and return on equity was 7.15% for GTES. The company reported revenue of $830.7 million for the quarter, compared to $872.9 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.83 percent.
