Freedom Capital Upgrades Strattec Security (NASDAQ:STRT) to Strong-Buy

Strattec Security (NASDAQ:STRT) was upgraded by investment analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

STRT has been the topic of several other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. Zacks Research cut Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Finally, Wall Street Zen cut Strattec Security from a “strong-buy” rating to a “buy” rating in a report on Saturday. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Strattec Security Trading Up 2.7%

Shares of NASDAQ STRT opened at $64.15 on Monday. The stock has a 50 day simple moving average of $77.83 and a 200-day simple moving average of $77.82. The company has a market cap of $268.15 million, a PE ratio of 10.59, a P/E/G ratio of 1.00 and a beta of 1.17. Strattec Security has a 12-month low of $40.00 and a 12-month high of $92.50.

Strattec Security (NASDAQ:STRT) last issued 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). Strattec Security had a return on equity of 11.13% and a net margin of 4.31%.The business had revenue of $137.63 million for the quarter, compared to analyst estimates of $140.35 million. Sell-side analysts forecast that Strattec Security will post 6.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Strattec Security by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock valued at $19,438,000 after purchasing an additional 8,542 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Strattec Security in the first quarter worth $368,000. Hsbc Holdings PLC raised its holdings in Strattec Security by 44.6% in the first quarter. Hsbc Holdings PLC now owns 4,922 shares of the auto parts company’s stock worth $383,000 after purchasing an additional 1,518 shares during the period. Janney Montgomery Scott LLC raised its holdings in Strattec Security by 3.7% in the first quarter. Janney Montgomery Scott LLC now owns 11,389 shares of the auto parts company’s stock worth $892,000 after purchasing an additional 404 shares during the period. Finally, Invesco Ltd. raised its holdings in Strattec Security by 488.0% in the fourth quarter. Invesco Ltd. now owns 48,726 shares of the auto parts company’s stock worth $3,710,000 after purchasing an additional 40,439 shares during the period. 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.