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GTES

Gates Industrial

$9.50

-0.115 (-1.20%)

06:45
10/09/19
10/09
06:45
10/09/19
06:45

Gates Industrial downgraded to Sector Perform from Outperform at RBC Capital

As previously reported, RBC Capital analyst Deane Dray downgraded Gates Industrial to Sector Perform from Outperform and lowered his price target to $10 from $12. The analyst warns that the company's "already bumpy" short-cycle industrial end markets could get even more rocky, noting that while it is also well managed, the business is at "ground-zero" of the "protracted" industrial weakness cycle. Dray adds that Gates Industrial has increased its restructuring efforts, but it is sacrificing near-term cash flows, while its net leverage ratio 3.7 is also elevated for a longer period of time than anticipated.

GTES Gates Industrial
$9.50

-0.115 (-1.20%)

12/18/18
MSCO
12/18/18
DOWNGRADE
Target $15
MSCO
Equal Weight
Gates Industrial assumed at Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Joshua Pokrzywinski assumed coverage of Gates Industrial at Equal Weight, down from the firm's prior Overweight rating, stating that he no longer sees significant upside to his sum-of-the-parts valuation as he believes it will be hard for Gates to "shake its Auto-focused narrative." Margins are better across the Gates portfolio, but higher cyclicality issues offset this, added Pokrzywinski, who set a $15 price target on the stock, which is down from the firm's previous $19 target.
06/25/19
GSCO
06/25/19
UPGRADE
Target $15
GSCO
Buy
Gates Industrial upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Jerry Revich upgraded Gates Industrial to Buy from Neutral, noting that the stock is down 46% from its highs of September of 2018, which he attributes to multiple compression amid negative estimate revisions due to destocking in the after-market channel and a slowdown in original equipment demand. With Gates now trading at a 12% discount to his Machinery & Diversified Industrials coverage and consensus expected to bottom over the next 1-2 quarters, the risk/reward for shares is now favorable, contends Revich. He maintains a $15 price target on Gates Industrial shares.
06/25/19
06/25/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. GrubHub (GRUB) upgraded to Buy from Neutral at Citi with analyst Mark May citing five primary factors he sees to be more bullish on the stock. 2. Gates Industrial (GTES) upgraded to Buy from Neutral at Goldman Sachs with analyst Jerry Revich saying the stock is down 46% from its highs of September of 2018, which he attributes to multiple compression amid negative estimate revisions due to destocking in the after-market channel and a slowdown in original equipment demand. 3. GasLog (GLOG) upgraded to Buy from Hold at Stifel with analyst Benjamin Nolan citing both valuation and his expectation for strong LNG charter rates in the second half of the year. 4. SiteOne Landscape (SITE) upgraded to Outperform from Neutral at Baird with analyst David Manthey saying weather may impact Q2 but he believes the short interest has already been priced in. 5. Lincoln National (LNC) upgraded to Buy from Neutral at Goldman Sachs with analyst Alex Scott citing the upside to earnings he sees in the group benefits segment following the company's acquisition and integration of the Liberty business, the higher economic value of the variable annuity business, the company's "strong" distribution platform and the earnings tailwind he expects from the company's digital investments. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/09/19
RBCM
10/09/19
DOWNGRADE
Target $10
RBCM
Sector Perform
Gates Industrial downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Deane Dray downgraded Gates Industrial to Sector Perform from Outperform with a $10 price target.

TODAY'S FREE FLY STORIES

HEXO

Hexo

$2.54

-0.05 (-1.93%)

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NLY

Annaly Capital

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0.05 (0.56%)

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INTC

Intel

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SoftBank

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C

Citi

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0.03 (0.04%)

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ALXN

Alexion

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6.46 (6.51%)

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SHI

Sinopec Shanghai

$28.18

-0.44 (-1.54%)

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BMY

Bristol-Myers

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NVS

Novartis

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GSK

GlaxoSmithKline

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0.76 (1.79%)

AZN

AstraZeneca

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SNY

Sanofi

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PFE

Pfizer

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MRK

Merck

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LLY

Eli Lilly

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JNJ

Johnson & Johnson

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0.95 (0.74%)

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HEXO

Hexo

$2.54

-0.05 (-1.93%)

12:32
10/23/19
10/23
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12:32
Syndicate
Hexo announces C$70M private placement of convertible debentures »

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CRM

Salesforce

$145.02

2.75 (1.93%)

12:30
10/23/19
10/23
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Options
Heavy delta short term call buyer in Salesforce »

Heavy delta short term…

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  • 16

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DYMEF

DionyMed Brands

$0.00

(0.00%)

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Hot Stocks
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CMG

Chipotle

$785.08

-46.605 (-5.60%)

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Hedgeye sees 30% downside in Chipotle, adds to Best Idea Short List 

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BA

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$340.95

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, CAT

Caterpillar

$133.30

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On The Fly
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BA

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TXN

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LLY

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FB

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ADI

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MCHP

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NXPI

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TNK

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TMO

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SNAP

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REZI

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LRN

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SPLK

Splunk

$117.82

7.41 (6.71%)

12:25
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Options
Splunk call volume above normal and directionally bullish »

Bullish option flow…

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TMO

Thermo Fisher

$297.03

16.14 (5.75%)

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$NSD

NASDAQ Market Internals

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12:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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12:16
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Technical Analysis
NYSE market internals summary »

Volume is average for…

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GPS

Gap

$17.60

-0.27 (-1.51%)

12:15
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Options
Gap put volume heavy and directionally bearish »

Bearish flow noted in Gap…

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PYPL

PayPal

$95.85

-1.55 (-1.59%)

, SYF

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$34.88

-0.1 (-0.29%)

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PYPL

PayPal

$95.85

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SYF

Synchrony

$34.88

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V

Visa

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0.46 (0.27%)

MA

MasterCard

$260.61

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FB

Facebook

$184.50

2.23 (1.22%)

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F

Ford

$9.04

-0.025 (-0.28%)

12:00
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Large pre-earnings calendar spread in Ford ahead of earnings »

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TXN

Texas Instruments

$120.29

-8.32 (-6.47%)

11:50
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Options
Aggressive post-earnings put seller in Texas Instruments »

Aggressive post-earnings…

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GBTC

Bitcoin Investment Trust

$0.00

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, FB

Facebook

$185.39

3.12 (1.71%)

11:48
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Bloomberg's Claire…

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Bitcoin Investment Trust

$0.00

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FB

Facebook

$185.39

3.12 (1.71%)

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SPY

SPDR S&P 500 ETF Trust

$299.50

0.47 (0.16%)

, SPX

S&P 500

$0.00

(0.00%)

11:47
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General news
President Trump says lifting sanctions on Turkey with ceasefire to be permanent »

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SPDR S&P 500 ETF Trust

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SPX

S&P 500

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ZS

Zscaler

$41.57

0.84 (2.06%)

11:45
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Options
Zscaler call volume above normal and directionally bullish »

Bullish option flow…

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