Gates Industrial Corporation plc (NYSE:GTES) saw a downside of -2.13% to $12.86 after subtracting -$0.28 on Monday. The 5-day average trading volume is 1,124,158 shares of the company’s common stock. It has gained $13.95 in the past week and touched a new high 2 times within the past 5 days. An average of 905,090 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,071,672.
GTES’s 1-month performance is -2.80% or -$0.38 on its low of $12.67 reached on 08/07/23. The company’s shares have touched a 52-week low of $9.40 and high of $14.93, with the stock’s rally to the 52-week high happening on 05/04/23. YTD, GTES has achieved 12.71% or $1.44 and has reached a new high 14 times. However, the current price is down -13.86% from the 52-week high price.
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Insider Transactions
GTES stock investors last saw insider trading activity on May 25.Blackstone Inc. (10% Owner) most recently sold 47,809,634 shares at $11.40 per share on May 23. This transaction cost the insider $544,910,304. 10% Owner, Omaha Aggregator (Cayman) L.P., sold 47,809,634 shares at a price of $11.40 on May 23.
Valuation Metrics
GTES stock has a beta of 1.55. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.05 while the price-to-book (PB) in the most recent quarter is 1.13, with the price to cash flow ratio at 20.84.
Gates Industrial Corporation plc’s quick ratio for the period ended March 30 was 2.30, with the current ratio over the same period at 3.20. As well, the company’s long term debt to equity for the quarter ending March 30 was 0.75, while the total debt to equity was 0.76. In terms of profitability, the gross margin trailing 12 months is 36.10%. The trailing 12-month EBITDA margin is 17.17% while for the period ending March 30, Gates Industrial Corporation plc’s operating margin was 10.80%. The firm’s gross profit as reported stood at $1.25 billion against revenue of $3.55 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 18.18% to $64.9 million, while revenue of $26.4 million was 59.32% off the previous quarter. Analysts expected GTES to announce $0.26 per share in earnings in its latest quarter, but it posted $0.25, representing a -3.80% surprise. EBITDA for the quarter stood at more than $141.8 million. GTES stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 3.73 billion, with total debt at $2.7 billion. Shareholders hold equity totaling $285.03 million.
Let’s look briefly at Gates Industrial Corporation plc (GTES) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 04 August was 26.05% to suggest the stock is trending oversold, with historical volatility in this time period at 16.25%.
The stock’s 5-day moving average is $13.30, reflecting a -5.69% or -$0.77 change from its current price. GTES is currently trading -4.28% above its 20-day SMA, -5.69% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +12.58% and SMA200 by+20.05%.
Stochastic %K and %D was 17.34% and 29.74% and the average true range (ATR) pointed at 0.32. The RSI (14) points at 35.81%, while the 14-day stochastic is at 13.67% with the period’s ATR at 0.30. The stock’s 9-day MACD Oscillator is pointing at -0.27 and -0.30 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Gates Industrial Corporation plc (NYSE: GTES), Goldman downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for GTES stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate GTES as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 2 have offered a “buy” rating.
What is GTES’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $14.00 and a high of $20.00, with their median price target at $15.00. Looking at these predictions, the average price target given by analysts is for Gates Industrial Corporation plc (GTES) stock is $16.06.