Strattec Security (NASDAQ:STRT) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Strattec Security (NASDAQ:STRT) from a strong sell rating to a hold rating in a research report released on Wednesday,Zacks reports.

Several other analysts have also issued reports on STRT. Weiss Ratings lowered shares of Strattec Security from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Wedbush set a $79.00 target price on shares of Strattec Security in a research note on Tuesday. Finally, Freedom Broker upgraded shares of Strattec Security from a “hold” rating to a “buy” rating and lowered their price target for the company from $83.00 to $79.00 in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Strattec Security presently has a consensus rating of “Buy” and an average price target of $79.00.

Strattec Security Stock Down 5.8%

Shares of NASDAQ STRT opened at $60.43 on Wednesday. The stock’s 50-day simple moving average is $66.23 and its two-hundred day simple moving average is $76.61. Strattec Security has a twelve month low of $57.01 and a twelve month high of $93.00. The firm has a market capitalization of $243.53 million, a P/E ratio of 14.67, a P/E/G ratio of 1.43 and a beta of 1.33.

Strattec Security (NASDAQ:STRT) last announced its quarterly earnings data on Thursday, October 29th. The auto parts company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.47 by $0.38. The firm had revenue of $147.20 million for the quarter, compared to analyst estimates of $146.60 million. Strattec Security had a return on equity of 10.06% and a net margin of 2.94%. As a group, research analysts anticipate that Strattec Security will post 4.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in shares of Strattec Security during the second quarter valued at approximately $34,000. Bank of America Corp DE purchased a new stake in Strattec Security in the second quarter worth $234,000. Canada Pension Plan Investment Board purchased a new stake in Strattec Security in the second quarter worth $285,000. Meeder Asset Management Inc. purchased a new stake in Strattec Security in the second quarter worth $296,000. Finally, Deutsche Bank AG purchased a new stake in Strattec Security in the second quarter worth $338,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.

About Strattec Security

Strattec Security Corporation (NASDAQ: STRT) designs and manufactures automotive access, security and vehicle-control products. Its offerings include mechanical and electronic locks, latches, keys, ignition systems, power-liftgate and sliding-door systems, actuators, and related security components used in passenger vehicles and commercial vehicles.

The company supplies automotive original equipment manufacturers and other transportation-industry customers. Its products are developed for applications such as vehicle entry, theft deterrence, body access and electronic control, and are produced and supported through operations in North America and other international locations.

Strattec traces its history to the early automotive components industry and became an independent publicly traded company after being spun off from Briggs & Stratton Corporation in 1995.