Strattec Security (NASDAQ:STRT) Lowered to Buy Rating by Wall Street Zen

Strattec Security (NASDAQ:STRT) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Several other equities analysts have also issued reports on the company. Zacks Research raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a report on Monday, December 29th. Finally, Freedom Capital downgraded shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy”.

Strattec Security Stock Performance

STRT stock opened at $90.41 on Friday. The firm has a market capitalization of $377.91 million, a price-to-earnings ratio of 13.70, a PEG ratio of 1.39 and a beta of 1.19. The firm has a 50 day moving average price of $81.05 and a 200-day moving average price of $72.92. Strattec Security has a 52-week low of $31.57 and a 52-week high of $92.50.

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

Insider Transactions at Strattec Security

In other news, VP Richard P. Messina sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $66.35, for a total transaction of $199,050.00. Following the sale, the vice president owned 11,624 shares of the company’s stock, valued at $771,252.40. This trade represents a 20.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRT. Gabelli Funds LLC boosted its holdings in Strattec Security by 342.6% in the third quarter. Gabelli Funds LLC now owns 138,100 shares of the auto parts company’s stock worth $9,399,000 after purchasing an additional 106,900 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Strattec Security during the 3rd quarter valued at $4,353,000. Millennium Management LLC boosted its stake in shares of Strattec Security by 117.3% in the 3rd quarter. Millennium Management LLC now owns 112,312 shares of the auto parts company’s stock worth $7,644,000 after buying an additional 60,628 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Strattec Security by 110.2% in the second quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock worth $5,624,000 after acquiring an additional 47,389 shares during the period. Finally, Invesco Ltd. purchased a new stake in Strattec Security during the second quarter valued at $2,831,000. Institutional investors own 68.91% of the company’s stock.

About Strattec Security

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.