Strattec Security (NASDAQ:STRT) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Strattec Security Corporation (NASDAQ:STRT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $76.09 and traded as high as $78.24. Strattec Security shares last traded at $75.43, with a volume of 72,506 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Wall Street Zen upgraded Strattec Security from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. Freedom Capital lowered Strattec Security from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Strattec Security has a consensus rating of “Buy”.

Strattec Security Stock Performance

The company has a market cap of $315.30 million, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. The stock has a 50 day moving average of $82.89 and a 200-day moving average of $76.09.

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

Hedge Funds Weigh In On Strattec Security

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted 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 buying an additional 1,280 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 in the last quarter. Empowered Funds LLC raised its position in Strattec Security by 3.3% during 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 holdings in 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 during the period. Finally, Geode Capital Management LLC boosted its position in Strattec Security by 110.2% in the 2nd quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock worth $5,624,000 after purchasing an additional 47,389 shares in the last quarter. 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.