Strattec Security (NASDAQ:STRT) Rating Increased to Strong-Buy at Freedom Capital

Freedom Capital upgraded shares of Strattec Security (NASDAQ:STRT) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research firms also recently commented on STRT. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a research report on Friday, March 27th. Zacks Research cut shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Wall Street Zen cut shares of Strattec Security from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Strattec Security Stock Up 2.7%

STRT stock opened at $64.15 on Monday. The company has a market capitalization of $268.15 million, a price-to-earnings 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. The firm has a 50 day moving average of $77.83 and a two-hundred day moving average of $77.82.

Strattec Security (NASDAQ:STRT) last posted its earnings results on Thursday, May 7th. The auto parts company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.24). The business had revenue of $137.63 million during the quarter, compared to the consensus estimate of $140.35 million. Strattec Security had a return on equity of 11.13% and a net margin of 4.31%. On average, research analysts expect that Strattec Security will post 6.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System bought a new position in shares of Strattec Security in the 4th quarter valued at about $27,000. State of Alaska Department of Revenue acquired a new stake in shares of Strattec Security in the 4th quarter valued at approximately $58,000. Raymond James Financial Inc. acquired a new stake in shares of Strattec Security in the 2nd quarter valued at approximately $92,000. New York State Common Retirement Fund bought a new position in Strattec Security in the second quarter valued at approximately $106,000. Finally, SG Americas Securities LLC bought a new position in Strattec Security in the fourth quarter valued at approximately $134,000. Institutional investors own 68.91% of the company’s stock.

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.