Strattec Security (NASDAQ:STRT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Strattec Security (NASDAQ:STRT) from a buy rating to a hold rating in a research note released on Sunday morning.

Several other research firms have also recently commented on STRT. Zacks Research cut Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a research note on Friday, March 27th. Finally, Freedom Capital raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Strattec Security Price Performance

STRT opened at $66.91 on Friday. The business has a 50 day simple moving average of $76.03 and a 200-day simple moving average of $77.73. The stock has a market capitalization of $279.68 million, a P/E ratio of 11.04, a P/E/G ratio of 1.09 and a beta of 1.17. Strattec Security has a 12 month low of $47.23 and a 12 month high of $92.50.

Strattec Security (NASDAQ:STRT) last posted its quarterly earnings results on Thursday, May 7th. The auto parts company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.24). The business had revenue of $137.63 million during the quarter, compared to analyst estimates of $140.35 million. Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. Research analysts anticipate that Strattec Security will post 6.12 EPS for the current year.

Insider Activity at Strattec Security

In related news, CEO Jennifer Lynn Slater acquired 801 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $62.46 per share, with a total value of $50,030.46. Following the completion of the purchase, the chief executive officer directly owned 57,924 shares in the company, valued at approximately $3,617,933.04. The trade was a 1.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Pauli acquired 2,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $62.53 per share, with a total value of $125,060.00. Following the transaction, the chief financial officer owned 2,000 shares of the company’s stock, valued at approximately $125,060. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 4,598 shares of company stock valued at $286,440 over the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Strattec Security

A number of hedge funds and other institutional investors have recently made changes to their positions in STRT. Bank of America Corp DE grew its position in shares of Strattec Security by 137.9% in the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 1,280 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Strattec Security by 41.6% in the first quarter. Goldman Sachs Group Inc. now owns 22,548 shares of the auto parts company’s stock valued at $890,000 after purchasing an additional 6,624 shares during the period. Empowered Funds LLC grew its position in shares of Strattec Security by 3.3% in the first quarter. Empowered Funds LLC now owns 17,221 shares of the auto parts company’s stock valued at $680,000 after purchasing an additional 555 shares during the period. Jane Street Group LLC grew its position in shares of Strattec Security by 61.1% in the first quarter. Jane Street Group LLC now owns 15,869 shares of the auto parts company’s stock valued at $626,000 after purchasing an additional 6,019 shares during the period. Finally, Geode Capital Management LLC grew its position 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 valued at $5,624,000 after purchasing an additional 47,389 shares during the period. 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.