Strattec Security (NASDAQ:STRT) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Strattec Security (NASDAQ:STRT) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks reports.

A number of other research firms have also recently commented on STRT. Freedom Broker reaffirmed a “hold” rating and set a $83.00 target price (down from $89.00) on shares of Strattec Security in a research note on Monday, August 31st. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Strattec Security currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Strattec Security Trading Down 1.5%

STRT stock opened at $64.91 on Tuesday. Strattec Security has a 12 month low of $57.01 and a 12 month high of $93.00. The company has a 50-day moving average price of $74.78 and a 200 day moving average price of $76.67. The stock has a market cap of $258.34 million, a PE ratio of 12.98, a P/E/G ratio of 1.54 and a beta of 1.23.

Strattec Security (NASDAQ:STRT) last posted its quarterly earnings data on Tuesday, August 25th. The auto parts company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.70. The company had revenue of $151.83 million for the quarter, compared to analyst estimates of $146.77 million. Strattec Security had a net margin of 3.56% and a return on equity of 10.79%. Sell-side analysts forecast that Strattec Security will post 4.27 EPS for the current year.

Institutional Investors Weigh In On Strattec Security

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STRT. Baird Financial Group Inc. boosted its position in Strattec Security by 4.1% in the 2nd quarter. Baird Financial Group Inc. now owns 18,475 shares of the auto parts company’s stock valued at $1,505,000 after buying an additional 720 shares during the period. Nilsine Partners LLC increased its position in shares of Strattec Security by 3.9% during the second quarter. Nilsine Partners LLC now owns 21,217 shares of the auto parts company’s stock worth $1,728,000 after acquiring an additional 790 shares during the period. Susquehanna International Group LLP raised its stake in shares of Strattec Security by 65.2% during the second quarter. Susquehanna International Group LLP now owns 11,765 shares of the auto parts company’s stock valued at $958,000 after acquiring an additional 4,642 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Strattec Security during the second quarter valued at approximately $2,175,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Strattec Security in the second quarter valued at approximately $766,000. Institutional investors own 68.91% of the company’s stock.

Strattec Security Company Profile

Strattec Security Corporation designs and manufactures automotive access, security and related vehicle-control products. Its product portfolio includes mechanical and electronic locks, latches, keys, key fobs, ignition systems, actuators and other components used to control access to and operation of vehicles.

The company supplies original equipment manufacturers and other automotive customers, with products used in passenger vehicles, light trucks and other applications. Its operations primarily serve the North American automotive market, while its products and customer relationships support vehicle production in other international markets.

Strattec traces its roots to the automotive security operations associated with Briggs & Stratton and became an independent publicly traded company in 1995.