Strattec Security (NASDAQ:STRT) Issues Quarterly Earnings Results

Strattec Security (NASDAQ:STRT) posted its quarterly earnings results on Thursday. The auto parts company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.38, FiscalAI reports. The firm 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 3.56% and a return on equity of 10.79%.

Strattec Security Stock Performance

STRT stock traded up $0.62 during mid-day trading on Friday, reaching $65.00. 51,550 shares of the stock traded hands, compared to its average volume of 79,641. The business has a 50-day moving average price of $67.76 and a two-hundred day moving average price of $77.10. Strattec Security has a one year low of $57.01 and a one year high of $93.00. The stock has a market capitalization of $258.70 million, a PE ratio of 13.00, a PEG ratio of 1.50 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STRT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a report on Monday, September 21st. Freedom Broker lowered shares of Strattec Security from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $89.00 to $83.00 in a report on Monday, August 31st. Finally, Zacks Research lowered shares of Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Strattec Security has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

About Strattec Security

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.