As of Wednesday close, Gates Industrial Corporation plc’s (NYSE:GTES) stock was up $0.09, moving up 0.74 percent to $12.25. The average number of shares traded per day over the past five days has been 1,119,800 shares. 3 times new highs have been achieved over the past 5 days, with a $0.34 gain in that time frame. In the last twenty days, the average volume was 2,180,475, while in the previous 50 days, it was 1,417,354.
Since last month, GTES stock retreated -10.39%. Shares of the company fell to $11.46 on 08/18/23, the lowest level in the past month. A 52-week high of $14.93 was reached on 05/04/23 after having rallying from a 52-week low of $9.40. Since the beginning of this year, GTES’s stock price has risen by 7.36% or $0.84, and marked a new high 14 times. However, the stock has declined by -17.95% since its 52-week high.
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GTES stock investors should be aware that Gates Industrial Corporation plc (GTES) stock had its last reported insider trading activity 17 days ago on Aug 14. Blackstone Inc., the 10% Owner of the company, disposed of 17,250,000 shares for $11.57 on Aug 14. It resulted in a $199,582,500 divestment by the insider. BX GATES ML-1 HOLDCO LLC sold 17,250,000 shares at an average price of $11.57 on Aug 14. The insider now owns 169,223 shares following the transaction. On Aug 14, 10% Owner Omaha Aggregator (Cayman) L.P. sold 17,250,000 shares at $11.57 apiece. The transaction was valued at $199,582,500.
Valuation Metrics
Right now, Gates Industrial Corporation plc (GTES) has a P/E ratio of about 15.22. The stock’s beta is 1.57. Besides these, the trailing price-to-sales (P/S) ratio of 0.90, the price-to-book (PB) ratio of 1.10, and the price-to-cash flow ratio of 7.14 may also be considered.
Financial Health
In the three months ended June 29, Gates Industrial Corporation plc’s quick ratio stood at 2.20, while its current ratio was 3.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.82, and the total debt-to-equity ratio was 0.83. On the profitability front, the trailing twelve-month gross margin is 36.40% percent. In the year ended June 29, EBITDA margin amounted to 17.17%, whereas operating margins totaled 11.70%. Based on annual data, GTES earned $1.25 billion in gross profit and brought in $3.55 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 6.60%. Return on equity (ROE) for the past 12 months was 7.40%.
In Gates Industrial Corporation plc’s quarter-end financial report for June 29, it reported total debt of $2.52 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GTES’s revenue rose 3.09% to $897.7 million during the quarter, while net income inched up to $935.7 million. While analysts expected Gates Industrial Corporation plc to report $0.33 quarterly earnings, the actual figure was $0.36 per share, beating the consensus estimate by 9.10%. During the quarter, the company generated $183.1 million in EBITDA. The liabilities of Gates Industrial Corporation plc were 3.89 billion at the end of its most recent quarter ended June 29, and its total debt was $2.7 billion. The value of shareholders’ equity is $264.09 million.
Technical Picture
This quick technical analysis looks at Gates Industrial Corporation plc’s (GTES) price momentum. With a historical volatility rate of 12.16%, the RSI 9-day stood at 58.22% on 30 August.
With respect to its five-day moving average, the current Gates Industrial Corporation plc price is up by +2.85% percent or $0.34. At present, GTES shares trade -9.12% below its 20-day simple moving average and -4.74% percent below its 100-day simple moving average. However, the stock is currently trading approximately -5.70% below its SMA50 and +4.70% above its SMA200.
Stochastic coefficient K was 92.66% and Stochastic coefficient D was 68.02%, while ATR was 0.24. Given the Stochastic reading of 95.18% for the 14-day period, the RSI (14) reading has been calculated as 49.13%. As of today, the MACD Oscillator reading stands at 0.23, while the 14-day reading stands at 0.32.
Analyst Ratings
Gates Industrial Corporation plc downgraded its rating on Gates Industrial Corporation plc (NYSE: GTES) to a Neutral in a note to investors on June 20, 2023. The analysts firm previously had a Buy rating on the stock.Gates Industrial Corporation plc (GTES) has been rated Hold by analysts. According to 0 brokerage firms, GTES is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Gates Industrial Corporation plc stock as buy, with 2 recommending it as overweight.
With a median target price of $15.00, the current consensus forecast for the stock is $14.00 – $20.00. Based on these forecasts, analysts predict Gates Industrial Corporation plc (GTES) will achieve an average price target of $15.94.
