RBC Capital Keeps a Buy Rating on Gates Industrial Corp Plc

By Carrie Williams

In a report released yesterday, Deane Dray from RBC Capital reiterated a Buy rating on Gates Industrial Corp Plc (NYSE: GTES), with a price target of $24. The company’s shares opened today at $18.01.

According to TipRanks.com, Dray is a 4-star analyst with an average return of 7.5% and a 61.7% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group Inc, Metaldyne Performance Group, and Lincoln Electric Holdings.

Gates Industrial Corp Plc has an analyst consensus of Strong Buy, with a price target consensus of $22.50.

The company has a one-year high of $20 and a one-year low of $16.60. Currently, Gates Industrial Corp Plc has an average volume of 1.39M.

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Gates Industrial Corp. Plc is a holding company, which engages in the manufacture of innovative, engineered power transmission, and fluid solutions. It operates through the Power Transmission, and Fluid Power segments.