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

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

STRT has been the subject of several other reports. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research report on Monday, December 29th. Zacks Research raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Freedom Capital lowered Strattec Security from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One 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. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Strattec Security Stock Down 0.6%

Shares of STRT stock opened at $89.80 on Friday. The business has a 50-day moving average price of $82.13 and a two-hundred day moving average price of $73.90. Strattec Security has a 12-month low of $31.57 and a 12-month high of $92.50. The firm has a market cap of $375.36 million, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19.

Strattec Security (NASDAQ:STRT) last announced 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. The company had revenue of $137.53 million for the quarter, compared to analysts’ expectations of $132.29 million. Strattec Security had a return on equity of 12.33% and a net margin of 4.63%. As a group, research analysts expect that Strattec Security will post 3.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Strattec Security

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in shares of Strattec Security by 137.9% in the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock worth $91,000 after purchasing an additional 1,280 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Strattec Security by 41.6% during the first quarter. Goldman Sachs Group Inc. now owns 22,548 shares of the auto parts company’s stock valued at $890,000 after acquiring an additional 6,624 shares during the period. Empowered Funds LLC lifted its position in shares of Strattec Security by 3.3% in the first quarter. Empowered Funds LLC now owns 17,221 shares of the auto parts company’s stock valued at $680,000 after acquiring an additional 555 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Strattec Security by 61.1% in the first quarter. Jane Street Group LLC now owns 15,869 shares of the auto parts company’s stock valued at $626,000 after acquiring an additional 6,019 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Strattec Security in the second quarter worth about $388,000. Hedge funds and other 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.