ValuEngine Upgrades Strattec Security Corporation (STRT) to Strong-Buy
Strattec Security Corporation (NASDAQ:STRT) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.
Strattec Security Corporation (STRT) opened at 40.90 on Monday. Strattec Security Corporation has a 52-week low of $23.00 and a 52-week high of $44.43. The stock has a 50 day moving average price of $36.71 and a 200 day moving average price of $33.40. The company has a market capitalization of $147.08 million, a price-to-earnings ratio of 20.87 and a beta of 1.63.
Strattec Security Corporation (NASDAQ:STRT) last posted its earnings results on Thursday, August 10th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.12). The business had revenue of $108.43 million during the quarter. Strattec Security Corporation had a return on equity of 4.43% and a net margin of 1.72%. Equities research analysts forecast that Strattec Security Corporation will post $2.08 earnings per share for the current year.
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In other Strattec Security Corporation news, insider Patrick J. Hansen sold 1,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $35.40, for a total transaction of $35,400.00. Following the transaction, the insider now directly owns 10,950 shares of the company’s stock, valued at approximately $387,630. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL raised its stake in Strattec Security Corporation by 1.9% in the second quarter. Gamco Investors INC. ET AL now owns 216,800 shares of the auto parts company’s stock worth $7,675,000 after buying an additional 4,000 shares in the last quarter. FMR LLC grew its stake in Strattec Security Corporation by 27.3% in the first quarter. FMR LLC now owns 412,800 shares of the auto parts company’s stock worth $11,476,000 after purchasing an additional 88,400 shares during the period. Uniplan Investment Counsel Inc. grew its stake in Strattec Security Corporation by 11.2% in the second quarter. Uniplan Investment Counsel Inc. now owns 148,769 shares of the auto parts company’s stock worth $5,266,000 after purchasing an additional 15,036 shares during the period. JPMorgan Chase & Co. grew its stake in Strattec Security Corporation by 38.9% in the first quarter. JPMorgan Chase & Co. now owns 4,328 shares of the auto parts company’s stock worth $120,000 after purchasing an additional 1,211 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Strattec Security Corporation in the second quarter worth $480,000. 82.93% of the stock is currently owned by hedge funds and other institutional investors.
About Strattec Security Corporation
Strattec Security Corporation designs, develops, manufactures and markets automotive access control products. The Company offers access control products, including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power lift gate systems, power deck lid systems, door handles and related products for North American automotive customers.
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