Strattec Security (NASDAQ:STRT) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Strattec Security (NASDAQ:STRT) from a hold rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. Freedom Broker currently has $79.00 price target on the auto parts company’s stock, down from their prior price target of $83.00.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings cut Strattec Security from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research cut Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

Strattec Security Stock Down 5.8%

Shares of STRT stock opened at $60.43 on Tuesday. The stock has a market cap of $243.53 million, a P/E ratio of 9.84, a PEG ratio of 1.43 and a beta of 1.33. Strattec Security has a 52 week low of $57.01 and a 52 week high of $93.00. The company’s fifty day simple moving average is $66.23 and its two-hundred day simple moving average is $76.61.

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

Institutional Trading of Strattec Security

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Strattec Security in the 2nd quarter valued at approximately $26,464,000. Dimensional Fund Advisors LP increased its position in shares of 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 valued at $19,438,000 after purchasing an additional 8,542 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Strattec Security by 41.7% during the 1st quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock valued at $19,413,000 after purchasing an additional 72,900 shares during the last quarter. De Lisle Partners LLP purchased a new stake in Strattec Security during the 2nd quarter valued at $3,494,000. Finally, Lazard Asset Management LLC raised its holdings in 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 valued at $3,212,000 after buying an additional 5,769 shares during the period. 68.91% of the stock is currently owned by institutional investors.

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.