Strattec Security (NASDAQ:STRT) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Strattec Security Corporation (NASDAQ:STRT)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $79.10 and traded as high as $83.31. Strattec Security shares last traded at $83.30, with a volume of 86,979 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STRT. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a report on Wednesday, June 24th. Freedom Capital upgraded shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Zacks Research raised shares of Strattec Security from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Wall Street Zen cut shares of Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Strattec Security Trading Up 3.2%

The stock has a market cap of $348.19 million, a PE ratio of 13.75, a P/E/G ratio of 1.66 and a beta of 1.18. The company has a fifty day moving average of $76.04 and a 200-day moving average of $79.10.

Strattec Security (NASDAQ:STRT) last announced its earnings results on Thursday, May 7th. The auto parts company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.24). Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. The firm had revenue of $137.63 million for the quarter, compared to analysts’ expectations of $140.35 million. As a group, research analysts anticipate that Strattec Security Corporation will post 6.12 earnings per share for the current fiscal year.

Strattec Security announced that its Board of Directors has initiated a share buyback program on Thursday, May 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 12.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Strattec Security

In other Strattec Security news, CEO Jennifer Lynn Slater acquired 801 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $62.46 per share, with a total value of $50,030.46. Following the completion of the purchase, the chief executive officer owned 57,924 shares in the company, valued at $3,617,933.04. This trade represents a 1.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Pauli acquired 2,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $62.53 per share, with a total value of $125,060.00. Following the purchase, the chief financial officer owned 2,000 shares of the company’s stock, valued at approximately $125,060. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 4,598 shares of company stock valued at $286,440. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Strattec Security

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System purchased a new stake in shares of Strattec Security during the fourth quarter worth $27,000. State of Alaska Department of Revenue purchased a new position in Strattec Security in the fourth quarter valued at $58,000. Bank of America Corp DE boosted its holdings in 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 valued at $91,000 after purchasing an additional 1,280 shares during the period. Raymond James Financial Inc. acquired a new position in Strattec Security during the 2nd quarter worth $92,000. Finally, New York State Common Retirement Fund acquired a new position in Strattec Security during the 2nd quarter worth $106,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.

Strattec Security Company Profile

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.