Jamey S. Seely Purchases 1,000 Shares of Gates Industrial Corp PLC (GTES) Stock

Gates Industrial Corp PLC (NYSE:GTES) VP Jamey S. Seely bought 1,000 shares of the stock in a transaction dated Friday, May 10th. The stock was acquired at an average price of $13.34 per share, with a total value of $13,340.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Gates Industrial stock traded up $0.03 during mid-day trading on Thursday, hitting $12.98. The stock had a trading volume of 2,797 shares, compared to its average volume of 328,750. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 10.15 and a beta of 1.74. Gates Industrial Corp PLC has a 12 month low of $12.19 and a 12 month high of $20.29. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 1.08.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $804.90 million during the quarter, compared to the consensus estimate of $844.21 million. Gates Industrial had a net margin of 25.29% and a return on equity of 15.57%. Gates Industrial’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. As a group, sell-side analysts expect that Gates Industrial Corp PLC will post 1.18 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC bought a new position in Gates Industrial in the first quarter valued at about $33,000. Quantamental Technologies LLC boosted its holdings in Gates Industrial by 146.7% in the first quarter. Quantamental Technologies LLC now owns 3,700 shares of the company’s stock valued at $53,000 after acquiring an additional 2,200 shares during the last quarter. Wright Investors Service Inc. boosted its holdings in Gates Industrial by 7.9% in the fourth quarter. Wright Investors Service Inc. now owns 11,459 shares of the company’s stock valued at $152,000 after acquiring an additional 840 shares during the last quarter. Diversified Trust Co boosted its holdings in Gates Industrial by 7.2% during the fourth quarter. Diversified Trust Co now owns 12,980 shares of the company’s stock worth $172,000 after buying an additional 870 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Gates Industrial by 7.3% during the fourth quarter. Legal & General Group Plc now owns 15,298 shares of the company’s stock worth $203,000 after buying an additional 1,040 shares during the last quarter.

A number of brokerages have recently weighed in on GTES. ValuEngine upgraded Gates Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. TheStreet upgraded Gates Industrial from a “d+” rating to a “c-” rating in a research note on Thursday, April 11th. Morgan Stanley set a $16.00 target price on Gates Industrial and gave the company a “hold” rating in a research note on Thursday, February 14th. Zacks Investment Research lowered Gates Industrial from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Barclays restated a “hold” rating and issued a $17.00 target price on shares of Gates Industrial in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.20.

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Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.

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