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Stock Charts AI Power Rank: 0.9
Power Rank trending -> DOWN

Last Price: 16.17 - Change: 0 - Change %: 0
06/24/2024 16:10:00 EST

Gates Industrial Corporation plc (GTES)

Industry: Specialty Industrial Machinery

Price Support Resistance

In the past 20 trading days, GTES has been trading in a range between $17.68 and $16.04 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.

The AI powered stock chart is in a Red zone currently. We would avoid this stock.

Upside / Downside Potential

Gates Industrial Corporation plc $GTES entered a Red zone 8 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $15.93, a potential down side of -1.48% from the recent price of 16.17. The stock is trading 11.19% (potential upside) below its 52 week high of $17.98 and 51.4 % (potential downside) above its 52 week low of $10.68 - based on the recent price.

Company Summary

Gates Industrial Corporation plc manufactures and sells engineered power transmission and fluid power solutions worldwide It operates in two segments, Power Transmission and Fluid Power. The company offers synchronous or asynchronous belts, including V-belts, CVT belts, and Micro-V belts, as well as related components, such as sprockets, pulleys, water pumps, tensioners, and other accessories; solutions for stationary and mobile drives, engine systems, and personal mobility application platforms; metal drive components; and kits for automotive replacement channels.

GTES Website

News

Gates (GTES) vs. Sterling (STRL): Which is a More Profitable Pick?
Amid macroeconomic headwinds, the public sector is encouraging for the industry. Let's find out whether Gates (GTES) or Sterling (STRL) is a better Engineering - R and D Services stock.
Source: Zacks Investment Research
Thu, 20 Jun 2024 13:05:23 -0400
Sentiment: Positive
Gates Welcomes Chief Accounting Officer
DENVER, June 17, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES) is pleased to announce the appointment of John Patouhas as Senior Vice President & Chief Accounting Officer, effective today, Monday, June 17, 2024.  John will be responsible for the strategic direction of Gates' accounting function, including financial reporting, risk, controls, and compliance in accordance with applicable standards, laws and regulations.
Source: PRNewsWire
Mon, 17 Jun 2024 11:01:00 -0400
Sentiment: Neutral
Gates Industrial: Maintaining Robust Margin With Plans For Market Extension
GTES focuses on power transmission and fluid power solutions, serving customers across 130 countries. Recently announced their entry into the data cooling centers to provide liquid cooling solutions. GTES has exited FY23 on a high note with good momentum, driving further expansion in profitability margin for FY24 as they focus on material cost reduction and productivity enhancement. Rising infrastructure build-outs outside of the U.S. present a substantial growth opportunity for GTES throughout the next few years.
Source: Seeking Alpha
Sun, 09 Jun 2024 12:38:46 -0400
Sentiment: Positive
GATES ANNOUNCES PRICING OF $500 MILLION OF 6.875% SENIOR NOTES DUE 2029
DENVER , May 22, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiary, Gates Corporation (the "Issuer" and, together with Gates, the "Company"), finalized the terms of the previously announced offering of $500.0 million aggregate principal amount of 6.875% Senior Notes due 2029 (the "notes"). The notes will be fully and unconditionally guaranteed by Gates Industrial Holdco Limited (the "Parent Guarantor"), an indirect parent company of the Issuer and the direct subsidiary of Gates, and certain other subsidiaries of the Parent Guarantor.
Source: PRNewsWire
Wed, 22 May 2024 19:01:00 -0400
Sentiment: Neutral
GATES ANNOUNCES INTENTION TO OFFER $500 MILLION OF SENIOR NOTES
DENVER, May 22, 2024 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiary, Gates Corporation (the "Issuer" and, together with Gates, the "Company"), intends to offer $500.0 million aggregate principal amount of Senior Notes due 2029 (the "notes"). The notes will be fully and unconditionally guaranteed by Gates Industrial Holdco Limited (the "Parent Guarantor"), an indirect parent company of the Issuer and the direct subsidiary of Gates, and certain other subsidiaries of the Parent Guarantor.
Source: PRNewsWire
Wed, 22 May 2024 08:10:00 -0400
Sentiment: Neutral
Instituions Institution %: 97.553
Last QTR Institution change: -8602173

Insiders
Insiders %: 0.897
Insiders Purchases last QTR: 1030492
Insiders Sales last QTR: 61651100
Insiders Net last QTR: -60620608

Analyst Ratings
Target Price: 15.93
Overall Rating: 4.2
Strong Buys (5): 6
Buys (4): 0
Holds (3): 4
Sells (2): 0
Strong Sells (1): 0

Technicals
52 Week Hi: 17.985
52 Week Low: 10.68
Beta: 1.436
50 Day MA: 16.9588
200 Day MA: 14.1567

Earnings / Revenue Trends
Qtr Earnings Growth YOY: 0.682
Qtr Revenue Growth YOY: -0.039
Forward PE: 12.4688
Trailing PE: 17.9667

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