RBC Capital analyst Deane Dray maintained a Hold rating on Gates Industrial (GTES – Research Report) on January 19 and set a price target of $12.00. The company’s shares closed yesterday at $12.46.
According to TipRanks, Dray is a 5-star analyst with an average return of 9.9% and a 59.80% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Xylem, Ametek, and General Electric.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gates Industrial with a $14.00 average price target.
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The company has a one-year high of $16.44 and a one-year low of $9.40. Currently, Gates Industrial has an average volume of 585.7K.
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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.