Versor Investments LP Invests $385,000 in Gates Industrial Corp PLC (NYSE:GTES)

Versor Investments LP acquired a new position in shares of Gates Industrial Corp PLC (NYSE:GTES) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,700 shares of the company’s stock, valued at approximately $385,000.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after purchasing an additional 1,598 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after buying an additional 814 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Gates Industrial during the third quarter worth about $67,000. Quarry LP acquired a new stake in Gates Industrial in the 3rd quarter valued at approximately $71,000. Finally, Covestor Ltd lifted its stake in Gates Industrial by 26.3% in the 3rd quarter. Covestor Ltd now owns 4,812 shares of the company’s stock valued at $84,000 after acquiring an additional 1,001 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group lifted their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Royal Bank of Canada increased their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. KeyCorp lifted their target price on Gates Industrial from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Citigroup reduced their price target on Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Gates Industrial Price Performance

Shares of NYSE GTES opened at $21.66 on Monday. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average price is $21.13 and its two-hundred day moving average price is $19.87. The company has a market cap of $5.53 billion, a PE ratio of 29.66 and a beta of 1.37. Gates Industrial Corp PLC has a twelve month low of $14.61 and a twelve month high of $23.85.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Gates Industrial 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.