Zacks Research downgraded shares of Strattec Security (NASDAQ:STRT – Free Report) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks reports.
Several other equities research analysts have also issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a research note on Monday, September 21st. Freedom Broker restated a “hold” rating and set a $83.00 price objective (down from $89.00) on shares of Strattec Security in a research note on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Strattec Security currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.
Get Our Latest Stock Analysis on Strattec Security
Strattec Security Stock Down 0.9%
Strattec Security (NASDAQ:STRT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 25th. The auto parts company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.70. Strattec Security had a net margin of 3.56% and a return on equity of 10.79%. The business had revenue of $151.83 million for the quarter, compared to analyst estimates of $146.77 million. On average, sell-side analysts anticipate that Strattec Security will post 4.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Strattec Security
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Strattec Security during the second quarter worth $26,464,000. Gabelli Funds LLC lifted its stake in Strattec Security by 41.7% in the first quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock valued at $19,413,000 after acquiring an additional 72,900 shares during the last quarter. De Lisle Partners LLP acquired a new stake in Strattec Security in the second quarter valued at $3,494,000. Empowered Funds LLC bought a new position in shares of Strattec Security in the 2nd quarter valued at about $2,175,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Strattec Security in the 2nd quarter valued at about $1,990,000. Institutional investors own 68.91% of the company’s stock.
Strattec Security Company Profile
Strattec Security Corporation designs and manufactures automotive access, security and related vehicle-control products. Its product portfolio includes mechanical and electronic locks, latches, keys, key fobs, ignition systems, actuators and other components used to control access to and operation of vehicles.
The company supplies original equipment manufacturers and other automotive customers, with products used in passenger vehicles, light trucks and other applications. Its operations primarily serve the North American automotive market, while its products and customer relationships support vehicle production in other international markets.
Strattec traces its roots to the automotive security operations associated with Briggs & Stratton and became an independent publicly traded company in 1995.
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