Stock Market Recap: Gates Industrial Corporation plc (GTES) Concludes at 15.25, a 0.20 Surge/Decline

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After finishing at $15.22 in the prior trading day, Gates Industrial Corporation plc (NYSE: GTES) closed at $15.25, up 0.20%. In other words, the price has increased by $0.20 from its previous closing price. On the day, 1.3 million shares were traded. GTES stock price reached its highest trading level at $15.27 during the session, while it also had its lowest trading level at $15.14.

Ratios:

Our goal is to gain a better understanding of GTES by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.63 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 11.64. For the most recent quarter (mrq), Quick Ratio is recorded 2.15 and its Current Ratio is at 3.06. In the meantime, Its Debt-to-Equity ratio is 0.77 whereas as Long-Term Debt/Eq ratio is at 0.76.

On February 29, 2024, Jefferies started tracking the stock assigning a Buy rating and target price of $21.

KeyBanc Capital Markets Upgraded its Sector Weight to Overweight on February 22, 2024, while the target price for the stock was maintained at $18.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on May 21 ’24 when Blackstone Inc. sold 20,125,000 shares for $16.33 per share. The transaction valued at 328,641,250 led to the insider holds 77,326 shares of the business.

Omaha Aggregator (Cayman) L.P. sold 20,125,000 shares of GTES for $328,641,250 on May 21 ’24. The 10% Owner now owns 77,326 shares after completing the transaction at $16.33 per share. On May 21 ’24, another insider, BX GATES ML-1 HOLDCO LLC, who serves as the 10% Owner of the company, sold 20,125,000 shares for $16.33 each. As a result, the insider received 328,641,250 and left with 77,326 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, GTES now has a Market Capitalization of 3986044928 and an Enterprise Value of 6217049088. As of this moment, Gates’s Price-to-Earnings (P/E) ratio for their current fiscal year is 16.73, and their Forward P/E ratio for the next fiscal year is 9.25. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.52. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.13 while its Price-to-Book (P/B) ratio in mrq is 1.25. Its current Enterprise Value per Revenue stands at 1.759 whereas that against EBITDA is 8.728.

Stock Price History:

The Beta on a monthly basis for GTES is 1.44, which has changed by 0.113138676 over the last 52 weeks, in comparison to a change of 0.24919295 over the same period for the S&P500. Over the past 52 weeks, GTES has reached a high of $17.99, while it has fallen to a 52-week low of $10.68. The 50-Day Moving Average of the stock is -8.11%, while the 200-Day Moving Average is calculated to be 6.27%.

Shares Statistics:

The stock has traded on average 2.60M shares per day over the past 3-months and 1945530 shares per day over the last 10 days, according to various share statistics. A total of 264.26M shares are outstanding, with a floating share count of 207.09M. Insiders hold about 20.77% of the company’s shares, while institutions hold 75.66% stake in the company. Shares short for GTES as of 1718323200 were 10521251 with a Short Ratio of 4.04, compared to 1715731200 on 9640734. Therefore, it implies a Short% of Shares Outstanding of 10521251 and a Short% of Float of 5.6199998.

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