Strattec Security (NASDAQ:STRT) Raised to “Strong-Buy” at Wall Street Zen

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

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a research note on Monday, December 29th. Freedom Capital downgraded Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Zacks Research raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Strattec Security Price Performance

Shares of STRT stock opened at $89.80 on Friday. The stock has a market cap of $375.36 million, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. The stock has a 50-day moving average of $82.13 and a 200-day moving average of $73.90. Strattec Security has a one year low of $31.57 and a one year high of $92.50.

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

Institutional Investors Weigh In On Strattec Security

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Strattec Security by 36.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 58,631 shares of the auto parts company’s stock valued at $3,990,000 after acquiring an additional 15,509 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Strattec Security during the third quarter valued at approximately $2,891,000. Bailard Inc. bought a new stake in Strattec Security during the second quarter valued at approximately $370,000. Los Angeles Capital Management LLC purchased a new position in Strattec Security in the 2nd quarter worth approximately $388,000. Finally, Quadrature Capital Ltd increased its holdings in shares of Strattec Security by 119.3% in the 2nd quarter. Quadrature Capital Ltd now owns 19,054 shares of the auto parts company’s stock worth $1,182,000 after buying an additional 10,364 shares during the last quarter. 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.