Zacks Research Downgrades Strattec Security (NASDAQ:STRT) to Strong Sell

Zacks Research downgraded shares of Strattec Security (NASDAQ:STRT) from a hold rating to a strong sell rating in a research note released on Tuesday,Zacks.com reports.

Separately, Wall Street Zen upgraded Strattec Security from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Strattec Security Trading Down 3.2%

NASDAQ:STRT opened at $65.81 on Tuesday. The business’s 50-day moving average is $64.93 and its two-hundred day moving average is $51.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.33 and a quick ratio of 1.72. Strattec Security has a 12 month low of $31.57 and a 12 month high of $83.00. The firm has a market capitalization of $274.43 million, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30.

Strattec Security (NASDAQ:STRT) last issued its earnings results on Thursday, August 14th. The auto parts company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.99. Strattec Security had a return on equity of 9.11% and a net margin of 3.31%.The company had revenue of $152.01 million during the quarter, compared to the consensus estimate of $143.51 million. Research analysts predict that Strattec Security will post 3.67 earnings per share for the current fiscal year.

Institutional Trading of Strattec Security

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Strattec Security by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 234,260 shares of the auto parts company’s stock valued at $9,652,000 after acquiring an additional 7,880 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Strattec Security by 27.5% during the 2nd quarter. Acadian Asset Management LLC now owns 99,522 shares of the auto parts company’s stock worth $6,186,000 after acquiring an additional 21,475 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Strattec Security by 110.2% in the 2nd quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock worth $5,624,000 after purchasing an additional 47,389 shares during the last quarter. American Century Companies Inc. increased its position in shares of Strattec Security by 58.9% in the 2nd quarter. American Century Companies Inc. now owns 68,459 shares of the auto parts company’s stock worth $4,259,000 after purchasing an additional 25,371 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Strattec Security by 16.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 54,202 shares of the auto parts company’s stock valued at $2,139,000 after purchasing an additional 7,726 shares in the last quarter. Institutional investors own 68.91% of the company’s stock.

Strattec Security Company Profile

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.