Strattec Security’s (STRT) Hold Rating Reiterated at Freedom Broker

Freedom Broker reiterated their hold rating on shares of Strattec Security (NASDAQ:STRT) in a report published on Monday morning, Marketbeat Ratings reports. They currently have a $83.00 price objective on the auto parts company’s stock, down from their previous price objective of $89.00.

STRT has been the topic of several other reports. Wall Street Zen downgraded shares of Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research raised shares of Strattec Security from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research report on Wednesday, June 24th. Finally, Freedom Capital raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.00.

Strattec Security Stock Up 5.6%

Shares of NASDAQ:STRT opened at $73.07 on Monday. Strattec Security has a 52-week low of $57.01 and a 52-week high of $93.00. The stock has a market cap of $290.82 million, a price-to-earnings ratio of 14.61, a PEG ratio of 1.62 and a beta of 1.17. The business has a 50-day moving average price of $81.38 and a 200-day moving average price of $79.32.

Strattec Security (NASDAQ:STRT) last issued its earnings results on Tuesday, August 25th. The auto parts company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.70. Strattec Security had a return on equity of 10.79% and a net margin of 3.56%.The firm had revenue of $151.83 million for the quarter, compared to analyst estimates of $146.77 million. As a group, equities analysts anticipate that Strattec Security will post 4.27 EPS for the current fiscal year.

Strattec Security declared that its board has authorized a share repurchase program on Thursday, May 28th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the auto parts company to reacquire up to 12.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Strattec Security

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its position in shares of Strattec Security by 2,010.5% in the second quarter. California State Teachers Retirement System now owns 4,643 shares of the auto parts company’s stock valued at $378,000 after buying an additional 4,423 shares in the last quarter. Nilsine Partners LLC lifted its position in shares of Strattec Security by 3.9% during the 2nd quarter. Nilsine Partners LLC now owns 21,217 shares of the auto parts company’s stock valued at $1,728,000 after buying an additional 790 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of Strattec Security by 65.2% during the 2nd quarter. Susquehanna International Group LLP now owns 11,765 shares of the auto parts company’s stock valued at $958,000 after buying an additional 4,642 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Strattec Security during the 2nd quarter valued at approximately $2,175,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Strattec Security in the 2nd quarter valued at $766,000. 68.91% of the stock is owned by institutional investors and hedge funds.

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.