Strattec Security (NASDAQ:STRT) Stock Rating Upgraded by Zacks Research

Strattec Security (NASDAQ:STRT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

A number of other analysts have also recently weighed in on STRT. Freedom Broker raised Strattec Security from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $83.00 to $79.00 in a research report on Tuesday. Weiss Ratings lowered Strattec Security from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Finally, Wedbush set a $79.00 target price on Strattec Security in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $79.00.

Strattec Security Stock Performance

Shares of NASDAQ:STRT opened at $60.43 on Wednesday. Strattec Security has a one year low of $57.01 and a one year high of $93.00. The stock has a market capitalization of $243.53 million, a price-to-earnings ratio of 14.67, a PEG ratio of 1.43 and a beta of 1.33. The company has a 50-day simple moving average of $66.23 and a 200-day simple moving average of $76.61.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings results on Thursday, October 29th. The auto parts company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Strattec Security will post 4.47 EPS for the current fiscal year.

Institutional Trading of Strattec Security

Several hedge funds and other institutional investors have recently made changes to their positions in STRT. BlackRock Inc. purchased a new stake in Strattec Security in the 2nd quarter valued at approximately $26,464,000. Dimensional Fund Advisors LP increased its position in Strattec Security by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock worth $19,438,000 after purchasing an additional 8,542 shares during the period. Gabelli Funds LLC increased its position in Strattec Security by 41.7% during the 1st quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock worth $19,413,000 after purchasing an additional 72,900 shares during the period. De Lisle Partners LLP purchased a new position in shares of Strattec Security during the 2nd quarter worth approximately $3,494,000. Finally, Lazard Asset Management LLC raised its stake in shares of Strattec Security by 16.4% during the 1st quarter. Lazard Asset Management LLC now owns 40,995 shares of the auto parts company’s stock worth $3,212,000 after buying an additional 5,769 shares in the last quarter. Hedge funds and other institutional investors own 68.91% of the company’s stock.

Strattec Security Company Profile

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.