Gates Industrial (GTES) Gets a Hold from RBC Capital

In a report released today, Deane Dray from RBC Capital maintained a Hold rating on Gates Industrial (GTESResearch Report), with a price target of $11.00. The company’s shares closed last Friday at $12.01.

According to TipRanks, Dray is a 5-star analyst with an average return of 10.0% and a 51.88% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as 3M, IDEX, and Enerpac Tool Group.

Gates Industrial has an analyst consensus of Moderate Buy, with a price target consensus of $14.88.

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GTES market cap is currently $3.48B and has a P/E ratio of 16.30.

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Gates Industrial Corp. Plc is a holding company, which engages in the manufacture of engineered power transmission and fluid solutions. It operates through the following segments: Power Transmission and Fluid Power. The Power Transmission segment includes elastomer drive belts, and related components used to efficiently transfer motion in a broad range of applications. The Fluid Power segment comprises of hoses, tubing, and fittings designed to convey hydraulic fluid at high-pressures in both mobile and stationary applications, and high-pressure and fluid transfer hoses used to convey various fluids. The company was founded on September 25, 2017 and is headquartered in Denver, CO.

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