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Strattec Security Corp (NASDAQ:STRT)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings, reports. The stock had previously closed at $61.98, but opened at $62.32. Strattec Security Corp shares last traded at $65.13, with a volume of 10,573 shares.

The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.41.

Separately, analysts at Robert W. Baird raised their price target on shares of Strattec Security Corp from $68.00 to $72.00 in a research note on Wednesday.

The stock’s 50-day moving average is $65.80 and its 200-day moving average is $65.44. The company has a market cap of $233.2 million and a P/E ratio of 15.91.

STRATTEC SECURITY CORPORATION designs, develops, manufactures and markets automotive security products including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings; and access control products including latches, power sliding side door systems, power lift gate systems, power deck lid systems, door handles and related access control products for North American automotive customers.

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