8 Cheap Beginner Stocks to Buy Right Now

6. Gates Industrial Corporation plc (NYSE:GTES)

Forward Price-to-Earnings Ratio: 13.18

Number of Hedge Fund Holders: 40

Gates Industrial Chemical Corporation (NYSE:GTES) is one of the 8 cheap beginner stocks to buy right now. Jeffrey Hammond, a KeyBanc analyst, raised his price target for Gates Industrial Chemical Corporation (NYSE:GTES) from $23 to $26 on June 9 while maintaining the stock’s rating of Overweight. This decision comes after meetings with investors and meetings with Ivo Jurek, the company’s CEO. Gates Industrial is effectively controlling manageable elements to boost earnings without depending on higher volume, even as demand trends are erratic. By innovating and gaining market share, the company is also appears to be growing in its markets.

Even in the absence of a notable end-market rebound, Hammond stated he is now more confident that Gates Industrial Chemical Corporation (NYSE:GTES) will be able to meet its margin targets by the end of 2026. This confidence is a result of the company’s proven ability to improve profit margins and penetrate more markets.

Gates Industrial Chemical Corporation (NYSE:GTES) is a multinational producer of fluid power and power transmission solutions. The company supplies products to original equipment manufacturers (OEMs) as well as replacement channel clients in a variety of industrial and consumer markets.