Freedom Capital Upgrades Strattec Security (NASDAQ:STRT) to Strong-Buy

Strattec Security (NASDAQ:STRT) was upgraded by equities researchers at Freedom Capital from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on STRT. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. Wall Street Zen lowered shares of Strattec Security from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research lowered shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Strattec Security has an average rating of “Buy”.

Strattec Security Stock Performance

STRT opened at $64.15 on Monday. The firm’s fifty day moving average is $77.83 and its two-hundred day moving average is $77.82. The firm has a market cap of $268.15 million, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. Strattec Security has a twelve month low of $40.00 and a twelve month high of $92.50.

Strattec Security (NASDAQ:STRT) last issued its quarterly earnings data on Thursday, May 7th. The auto parts company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.24). Strattec Security had a return on equity of 11.13% and a net margin of 4.31%.The company had revenue of $137.63 million for the quarter, compared to analyst estimates of $140.35 million. Equities analysts forecast that Strattec Security will post 6.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd increased its stake in shares of Strattec Security by 1.1% in the fourth quarter. WINTON GROUP Ltd now owns 11,507 shares of the auto parts company’s stock worth $876,000 after purchasing an additional 122 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Strattec Security by 6.3% in the fourth quarter. Deutsche Bank AG now owns 2,907 shares of the auto parts company’s stock worth $221,000 after buying an additional 172 shares during the period. Bailard Inc. increased its stake in shares of Strattec Security by 5.0% in the fourth quarter. Bailard Inc. now owns 4,200 shares of the auto parts company’s stock worth $320,000 after buying an additional 200 shares during the period. NewEdge Advisors LLC increased its stake in shares of Strattec Security by 3.8% in the third quarter. NewEdge Advisors LLC now owns 5,652 shares of the auto parts company’s stock worth $385,000 after buying an additional 207 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in shares of Strattec Security in the fourth quarter worth $27,000. Institutional investors and hedge funds own 68.91% of the company’s stock.

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.