Gates Industrial Corporation plc (NYSE: GTES) is -2.67% lower on its value in year-to-date trading and has touched a low of $12.40 and a high of $23.34 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GTES stock was last observed hovering at around $20.78 in the last trading session, with the day’s loss setting it -0.76%.
Currently trading at $20.02, the stock is -2.23% and -5.42% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.52 million and changing -3.66% at the moment leaves the stock 9.59% off its SMA200. GTES registered 58.14% gain for a year compared to 6-month gain of 15.06%. The firm has a 50-day simple moving average (SMA 50) of $21.1898 and a 200-day simple moving average (SMA200) of $18.25535.
The stock witnessed a -2.91% loss in the last 1 month and extending the period to 3 months gives it a 7.92%, and is -2.29% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.37% over the week and 2.33% over the month.
Gates Industrial Corporation plc (GTES) has around 14700 employees, a market worth around $5.10B and $3.44B in sales. Current P/E ratio is 24.05 and Fwd P/E is 13.25. Profit margin for the company is 6.44%. Distance from 52-week low is 61.39% and -14.22% from its 52-week high. The company has generated returns on investments over the last 12 months (3.98%).
with sales reaching $827.43M over the same period.The EPS is expected to shrink by -1.06% this year, but quarterly earnings will post -4.65% year-over-year. Quarterly sales are estimated to shrink -4.16% in year-over-year returns.
Gates Industrial Corporation plc (GTES) Top Institutional Holders
439.0 institutions hold shares in Gates Industrial Corporation plc (GTES), with institutional investors hold 105.83% of the company’s shares. The shares outstanding are 254.70M, and float is at 243.25M with Short Float at 2.49%. Institutions hold 104.80% of the Float.
The top institutional shareholder in the company is BLACKSTONE INC. with over 51.88 million shares valued at $820.17 million. The investor’s holdings represent 19.8427% of the GTES Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 20.36 million shares valued at $321.96 million to account for 7.7892 of the shares outstanding. The other top investors are ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC which holds 14.63 million shares representing 5.5944% and valued at over $231.24 million, while FMR LLC holds 4.7799 of the shares totaling 12.5 million with a market value of $197.57 million.
Gates Industrial Corporation plc (GTES) Insider Activity
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Still, SEC filings show that on Nov 25 ’24, BX Gates ML-3 Holdco LLC Proposed Sale 1,030 shares at an average price of $21.39 for $22032.0. The insider now directly holds shares of Gates Industrial Corporation plc (GTES).
