Strattec Security (NASDAQ:STRT) Cut to “Buy” at Wall Street Zen

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

Several other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a research note on Monday, December 29th. Freedom Capital lowered shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Zacks Research raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. One equities 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. Based on data from MarketBeat, Strattec Security has a consensus rating of “Buy”.

Strattec Security Trading Up 3.7%

Shares of NASDAQ STRT opened at $90.41 on Friday. Strattec Security has a 12-month low of $31.57 and a 12-month high of $92.50. The firm has a market capitalization of $377.91 million, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.19. The firm has a 50 day moving average of $81.05 and a 200 day moving average of $72.92.

Strattec Security (NASDAQ:STRT) last issued 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 business had revenue of $137.53 million for 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%. Sell-side analysts predict that Strattec Security will post 3.67 EPS for the current year.

Insider Buying and Selling

In related news, VP Richard P. Messina sold 3,000 shares of the business’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 transaction, the vice president directly owned 11,624 shares of the company’s stock, valued at approximately $771,252.40. The trade was a 20.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Strattec Security

Several institutional investors and hedge funds have recently modified their holdings of STRT. Ameritas Investment Partners Inc. bought a new position in shares of Strattec Security during the second quarter worth $25,000. New York State Teachers Retirement System purchased a new stake in shares of Strattec Security in the fourth quarter worth about $27,000. Police & Firemen s Retirement System of New Jersey bought a new position in Strattec Security during the second quarter valued at approximately $50,000. State of Alaska Department of Revenue purchased a new position in Strattec Security during the 4th quarter valued at approximately $58,000. Finally, Bank of America Corp DE increased its stake in Strattec Security by 137.9% in the 4th quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock worth $91,000 after acquiring an additional 1,280 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.