Strattec Security (NASDAQ:STRT) Upgraded to Hold at 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 note issued to investors on Wednesday, Zacks reports.

A number of other research analysts have also recently issued reports on STRT. Wedbush set a $79.00 price objective on Strattec Security in a report on Tuesday. Weiss Ratings lowered shares of Strattec Security from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Finally, Freedom Broker raised shares of Strattec Security from a “hold” rating to a “buy” rating and lowered their target price for the stock from $83.00 to $79.00 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $79.00.

Strattec Security Trading Down 5.8%

STRT opened at $60.43 on Wednesday. The stock has a market cap of $243.53 million, a PE ratio of 9.84, a P/E/G ratio of 1.43 and a beta of 1.33. The stock’s 50 day simple moving average is $66.23 and its 200-day simple moving average is $76.61. Strattec Security has a 1 year low of $57.01 and a 1 year high of $93.00.

Strattec Security (NASDAQ:STRT) last posted its earnings results on Thursday, October 29th. The auto parts company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.47 by $0.38. Strattec Security had a return on equity of 10.06% and a net margin of 2.94%. The business had revenue of $147.20 million during the quarter, compared to the consensus estimate of $146.60 million. Equities analysts forecast that Strattec Security will post 4.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Strattec Security

A number of hedge funds and other institutional investors have recently bought and sold shares of STRT. Bank of New York Mellon Corp bought a new position in Strattec Security in the 2nd quarter valued at $1,990,000. Empowered Funds LLC acquired a new position in Strattec Security in the second quarter worth $2,175,000. BlackRock Inc. acquired a new position in Strattec Security in the second quarter worth $26,464,000. Gabelli Funds LLC grew its holdings in shares of Strattec Security by 41.7% during the first 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 last quarter. Finally, De Lisle Partners LLP bought a new stake in shares of Strattec Security during the second quarter worth $3,494,000. 68.91% of the stock is owned by institutional investors and hedge funds.

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.