Strattec Security (NASDAQ:STRT) Cut to “Hold” at Freedom Capital

Freedom Capital downgraded shares of Strattec Security (NASDAQ:STRT) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a research report on Monday, December 29th. Zacks Research raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Strattec Security Price Performance

STRT stock opened at $90.41 on Wednesday. The company has a market capitalization of $377.91 million, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19. The firm’s fifty day simple moving average is $81.05 and its 200-day simple moving average is $72.92. Strattec Security has a 12 month low of $31.57 and a 12 month high of $92.50.

Strattec Security (NASDAQ:STRT) last announced its quarterly earnings results on Thursday, February 5th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.78. The company had revenue of $137.53 million for the quarter, compared to the consensus estimate of $132.29 million. Strattec Security had a return on equity of 12.33% and a net margin of 4.63%. As a group, sell-side analysts forecast that Strattec Security will post 3.67 earnings per share for the current year.

Insider Transactions at Strattec Security

In other Strattec Security news, VP Richard P. Messina sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $66.35, for a total value of $199,050.00. Following the sale, the vice president directly owned 11,624 shares of the company’s stock, valued at approximately $771,252.40. This trade represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Strattec Security

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in Strattec Security during the second quarter valued at $25,000. New York State Teachers Retirement System purchased a new position in Strattec Security in the 4th quarter valued at about $27,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Strattec Security in the 2nd quarter worth about $50,000. State of Alaska Department of Revenue acquired a new stake in Strattec Security in the 4th quarter worth about $58,000. Finally, Bank of America Corp DE increased its stake in Strattec Security by 137.9% during the 4th quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock worth $91,000 after buying an additional 1,280 shares in the last quarter. Institutional investors and hedge funds own 68.91% of the company’s stock.

Strattec Security Company Profile

Strattec Security Corporation is a Wisconsin‐based designer and manufacturer of mechanical and electronic locking systems for the global automotive market. Established more than five decades ago, the company supplies original equipment manufacturers (OEMs) and the aftermarket with a broad portfolio of lock and key solutions tailored to passenger cars, light trucks and commercial vehicles.

The company’s product range includes mechanical locking systems such as door lock cylinders, ignition lock modules, key blanks and door handles, as well as electromechanical and keyless‐entry systems.