Strattec Security (NASDAQ:STRT) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Strattec Security Corporation (NASDAQ:STRT)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.94 and traded as high as $81.30. Strattec Security shares last traded at $79.48, with a volume of 117,569 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on STRT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. Zacks Research downgraded shares of Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Freedom Capital upgraded shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Strattec Security Stock Up 0.9%

The stock’s 50-day simple moving average is $75.25 and its 200 day simple moving average is $78.94. The company has a market cap of $332.23 million, a price-to-earnings ratio of 13.12, a PEG ratio of 1.29 and a beta of 1.17.

Strattec Security (NASDAQ:STRT) last released its quarterly 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). The firm had revenue of $137.63 million for the quarter, compared to analyst estimates of $140.35 million. Strattec Security had a return on equity of 11.00% and a net margin of 4.31%. 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 has approved a share 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 reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Strattec Security news, CEO Jennifer Lynn Slater bought 801 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $62.46 per share, with a total value of $50,030.46. Following the acquisition, the chief executive officer directly owned 57,924 shares of the company’s stock, valued at $3,617,933.04. The trade was a 1.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Pauli purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought 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 in the company, valued at $125,060. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 4,598 shares of company stock valued at $286,440 in the last ninety days. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Strattec Security

A number of large investors have recently added to or reduced their stakes in STRT. Gabelli Funds LLC boosted its stake in shares of Strattec Security by 342.6% during the 3rd quarter. Gabelli Funds LLC now owns 138,100 shares of the auto parts company’s stock worth $9,399,000 after purchasing an additional 106,900 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Strattec Security during the third quarter worth $859,000. Principal Financial Group Inc. acquired a new stake in shares of Strattec Security during the third quarter worth $428,000. Teton Advisors LLC acquired a new stake in shares of Strattec Security during the third quarter worth $2,416,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Strattec Security during the third quarter worth $775,000. 68.91% of the stock is owned by institutional investors and hedge funds.

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.