Strattec Security (NASDAQ:STRT) Raised to "Buy" at StockNews.com

StockNews.com upgraded shares of Strattec Security (NASDAQ:STRT - Free Report) from a hold rating to a buy rating in a research note released on Thursday.

Strattec Security Stock Performance

Strattec Security stock traded up $0.03 during midday trading on Thursday, reaching $40.97. The stock had a trading volume of 22,270 shares, compared to its average volume of 14,361. The firm's 50-day moving average price is $38.29 and its 200 day moving average price is $31.24. Strattec Security has a 12 month low of $20.87 and a 12 month high of $43.15. The firm has a market capitalization of $167.98 million, a PE ratio of 10.43, a P/E/G ratio of 1.47 and a beta of 1.14. 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 - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The auto parts company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.56 by $0.36. The company had revenue of $139.05 million during the quarter, compared to analyst estimates of $139.32 million. Strattec Security had a return on equity of 7.12% and a net margin of 2.93%. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, research analysts predict that Strattec Security will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Richard P. Messina sold 1,270 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $38.78, for a total transaction of $49,250.60. Following the completion of the sale, the vice president now owns 11,930 shares of the company's stock, valued at approximately $462,645.40. This represents a 9.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Strattec Security

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gabelli Funds LLC raised its holdings in shares of Strattec Security by 9.2% during the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company's stock valued at $873,000 after acquiring an additional 3,100 shares in the last quarter. Perritt Capital Management Inc raised its holdings in Strattec Security by 47.0% in the second quarter. Perritt Capital Management Inc now owns 10,102 shares of the auto parts company's stock worth $253,000 after purchasing an additional 3,229 shares in the last quarter. De Lisle Partners LLP raised its holdings in Strattec Security by 11.2% in the third quarter. De Lisle Partners LLP now owns 43,094 shares of the auto parts company's stock worth $1,830,000 after purchasing an additional 4,355 shares in the last quarter. Marquette Asset Management LLC raised its holdings in Strattec Security by 96.4% in the third quarter. Marquette Asset Management LLC now owns 11,332 shares of the auto parts company's stock worth $483,000 after purchasing an additional 5,563 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in Strattec Security in the third quarter worth $266,000. 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.