Strattec Security (NASDAQ:STRT) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Strattec Security (NASDAQ:STRT) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Several other research firms also recently issued reports on STRT. Freedom Capital downgraded shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a report on Monday, December 29th. Finally, Zacks Research upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. One research 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 stock. According to data from MarketBeat, the company has an average rating of “Buy”.

Strattec Security Price Performance

Shares of NASDAQ:STRT opened at $90.41 on Friday. The business has a 50-day moving average of $81.05 and a two-hundred day moving average of $72.97. The firm has a market capitalization of $377.91 million, a PE ratio of 13.70, a P/E/G ratio of 1.45 and a beta of 1.19. Strattec Security has a 12 month low of $31.57 and a 12 month high of $92.50.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings data on Thursday, February 5th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.78. The business had revenue of $137.53 million for the quarter, compared to analyst estimates 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 anticipate that Strattec Security will post 3.67 earnings per share for the current year.

Insider Transactions at Strattec Security

In other Strattec Security news, VP Richard P. Messina sold 3,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $66.35, for a total value of $199,050.00. Following the completion of the transaction, the vice president directly owned 11,624 shares of the company’s stock, valued at $771,252.40. This represents a 20.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STRT. Allspring Global Investments Holdings LLC grew its stake in Strattec Security by 36.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 58,631 shares of the auto parts company’s stock worth $3,990,000 after purchasing an additional 15,509 shares in the last quarter. Pacer Advisors Inc. bought a new position in Strattec Security during the 3rd quarter worth approximately $2,891,000. Bailard Inc. acquired a new position in shares of Strattec Security in the 2nd quarter worth approximately $370,000. Los Angeles Capital Management LLC bought a new stake in shares of Strattec Security in the 2nd quarter valued at approximately $388,000. Finally, Quadrature Capital Ltd increased its holdings in shares of Strattec Security by 119.3% in the 2nd quarter. Quadrature Capital Ltd now owns 19,054 shares of the auto parts company’s stock valued at $1,182,000 after acquiring an additional 10,364 shares during the last quarter. Institutional investors and hedge funds 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.