Strattec Security (NASDAQ:STRT) Announces Earnings Results, Beats Expectations By $0.38 EPS

Key Points

• Strattec Security beat quarterly earnings expectations: EPS was $1.85, exceeding the $1.47 analyst consensus by $0.38. Revenue totaled $147.2 million, slightly above expectations of $146.6 million.
• Shares rose 0.6% to $64.38 in midday trading, though the stock remained below its 50-day and 200-day moving averages and well under its 52-week high of $93.00.
• Analyst sentiment is mixed but averages to a “Moderate Buy” rating, with a consensus price target of $83.00; recent actions included a downgrade to “Strong Sell” and a separate downgrade to “Hold.”

Strattec Security (NASDAQ:STRT - Get Free Report) issued its quarterly earnings data on Thursday. The auto parts company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.38, FiscalAI reports. Strattec Security had a net margin of 3.56% and a return on equity of 10.79%. The firm had revenue of $147.20 million during the quarter, compared to analysts' expectations of $146.60 million.

Strattec Security Stock Up 0.6%

Shares of NASDAQ:STRT traded up $0.40 during midday trading on Thursday, reaching $64.38. 57,447 shares of the company were exchanged, compared to its average volume of 79,821. The stock has a fifty day simple moving average of $68.08 and a two-hundred day simple moving average of $77.17. The firm has a market cap of $256.23 million, a PE ratio of 12.88, a P/E/G ratio of 1.43 and a beta of 1.23. Strattec Security has a fifty-two week low of $57.01 and a fifty-two week high of $93.00.

Wall Street Analysts Forecast Growth

STRT has been the subject of a number of research reports. Zacks Research downgraded shares of Strattec Security from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Strattec Security in a research note on Monday, September 21st. Finally, Freedom Broker cut shares of Strattec Security from a "buy" rating to a "hold" rating and dropped their target price for the stock from $89.00 to $83.00 in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Strattec Security presently has an average rating of "Moderate Buy" and an average price target of $83.00.

About Strattec Security

Strattec Security Corporation NASDAQ: STRT designs and manufactures automotive access, security and vehicle-control products. Its offerings include mechanical and electronic locks, latches, keys, ignition systems, power-liftgate and sliding-door systems, actuators, and related security components used in passenger vehicles and commercial vehicles.

The company supplies automotive original equipment manufacturers and other transportation-industry customers. Its products are developed for applications such as vehicle entry, theft deterrence, body access and electronic control, and are produced and supported through operations in North America and other international locations.

Strattec traces its history to the early automotive components industry and became an independent publicly traded company after being spun off from Briggs & Stratton Corporation in 1995.

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