Strattec Security (NASDAQ:STRT) Posts Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Strattec Security (NASDAQ:STRT) announced its quarterly earnings data on Thursday. The auto parts company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.32), Zacks reports. Strattec Security had a net margin of 4.63% and a return on equity of 12.33%. The firm had revenue of $137.63 million for the quarter, compared to analyst estimates of $140.35 million.

Strattec Security Price Performance

Shares of STRT stock traded down $12.11 during trading hours on Friday, reaching $62.45. The company had a trading volume of 232,692 shares, compared to its average volume of 71,027. The business has a fifty day simple moving average of $78.92 and a 200-day simple moving average of $77.87. Strattec Security has a 12 month low of $37.50 and a 12 month high of $92.50. The company has a market cap of $261.04 million, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.17.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STRT. Zacks Research downgraded shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Wall Street Zen upgraded Strattec Security from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Freedom Capital lowered Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Strattec Security currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Strattec Security

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. bought a new stake in Strattec Security during the third quarter worth $4,353,000. Millennium Management LLC grew its stake in shares of Strattec Security by 117.3% during the 3rd quarter. Millennium Management LLC now owns 112,312 shares of the auto parts company’s stock worth $7,644,000 after acquiring an additional 60,628 shares during the period. Geode Capital Management LLC increased its stake in shares of Strattec Security by 110.2% in the second 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 in the last quarter. Invesco Ltd. purchased a new position in Strattec Security in the 2nd quarter valued at approximately $2,831,000. Finally, Bridgeway Capital Management LLC grew its position in shares of Strattec Security by 84.4% in the third quarter. Bridgeway Capital Management LLC now owns 78,599 shares of the auto parts company’s stock valued at $5,349,000 after purchasing an additional 35,986 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 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.