KeyBanc analyst Jeffrey Hammond maintained a Buy rating on Gates Industrial (NYSE:GTES) Corp Plc on Wednesday, setting a price target of $17, which is approximately 31.89% above the present share price of $12.89.
Hammond expects Gates Industrial Corp Plc to post earnings per share (EPS) of $0.14 for the fourth quarter of 2020.
The current consensus among 6 TipRanks analysts is for a Moderate Buy rating of shares in Gates Industrial, with an average price target of $14.92.
The analysts price targets range from a high of $17 to a low of $13.
In its latest earnings report, released on 09/30/2020, the company reported a quarterly revenue of $712.2 million and a net profit of $79.4 million. The company's market cap is $3.75 billion.
According to TipRanks.com, KeyBanc analyst Jeffrey Hammond is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 10.4% and a 59.52% success rate.
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.