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

Strattec Security Corporation (NASDAQ:STRT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $78.51 and traded as high as $80.12. Strattec Security shares last traded at $79.71, with a volume of 69,818 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently commented on STRT. Freedom Capital raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Strattec Security from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. Finally, Zacks Research downgraded shares of Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Strattec Security Trading Up 1.9%

The company has a 50 day simple moving average of $75.31 and a two-hundred day simple moving average of $78.51. The firm has a market capitalization of $333.11 million, a P/E ratio of 13.15, a P/E/G ratio of 1.28 and a beta of 1.17.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings data on Thursday, May 7th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.24). The company had revenue of $137.63 million for the quarter, compared to the consensus estimate of $140.35 million. Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. On average, sell-side analysts expect that Strattec Security Corporation will post 6.12 EPS for the current fiscal year.

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

Insider Activity at Strattec Security

In other Strattec Security news, CEO Jennifer Lynn Slater bought 801 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $62.46 per share, with a total value of $50,030.46. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Pauli purchased 2,000 shares of Strattec Security stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $62.53 per share, for a total transaction of $125,060.00. Following the transaction, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at $125,060. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 4,598 shares of company stock valued at $286,440. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Strattec Security

A number of large investors have recently made changes to their positions in the business. New York State Teachers Retirement System bought a new position in shares of Strattec Security in the 4th quarter valued at about $27,000. State of Alaska Department of Revenue bought a new stake in Strattec Security during the fourth quarter worth approximately $58,000. Raymond James Financial Inc. bought a new stake in Strattec Security during the second quarter worth approximately $92,000. New York State Common Retirement Fund purchased a new stake in Strattec Security during the second quarter valued at approximately $106,000. Finally, SG Americas Securities LLC bought a new stake in shares of Strattec Security in the 4th quarter valued at approximately $134,000. 68.91% of the stock is currently owned by institutional investors.

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.