Strattec Security (NASDAQ:STRT) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Strattec Security (NASDAQ:STRT) from a hold rating to a buy rating in a research report report published on Thursday.

Strattec Security Trading Down 0.8 %

Shares of STRT opened at $40.64 on Thursday. The stock’s fifty day simple moving average is $38.52 and its 200-day simple moving average is $31.43. The firm has a market capitalization of $166.62 million, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.47 and a beta of 1.14. Strattec Security has a 12-month low of $20.87 and a 12-month high of $43.15. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.06.

Strattec Security (NASDAQ:STRT) last released its earnings results on Monday, November 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.36. Strattec Security had a net margin of 2.93% and a return on equity of 7.12%. The company had revenue of $139.05 million for the quarter, compared to the consensus estimate of $139.32 million. During the same period in the prior year, the company posted $1.05 EPS. As a group, research analysts predict that Strattec Security will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On Strattec Security

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acuitas Investments LLC bought a new stake in shares of Strattec Security in the 2nd quarter valued at about $925,000. Factorial Partners LLC acquired a new stake in Strattec Security during the 3rd quarter worth $1,346,000. Allspring Global Investments Holdings LLC bought a new position in shares of Strattec Security during the 3rd quarter valued at about $1,071,000. Gamco Investors INC. ET AL increased its stake in Strattec Security by 2.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 749,115 shares of the auto parts company’s stock worth $17,776,000 after purchasing an additional 16,225 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Strattec Security during the 3rd quarter worth approximately $374,000. Institutional investors own 68.91% of the company’s stock.

About Strattec Security

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.