Short Interest in Strattec Security Corporation (NASDAQ:STRT) Grows By 13.3%

Strattec Security Corporation (NASDAQ:STRT - Get Free Report) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totaling 181,383 shares, an increase of 13.3% from the March 31st total of 160,090 shares. Approximately 4.5% of the company's stock are sold short. Based on an average daily trading volume, of 113,195 shares, the short-interest ratio is currently 1.6 days.

Strattec Security Trading Up 0.9%

Shares of STRT stock opened at $75.26 on Friday. Strattec Security has a 12 month low of $31.95 and a 12 month high of $92.50. The stock has a market cap of $314.59 million, a P/E ratio of 11.40, a P/E/G ratio of 1.19 and a beta of 1.25. The company has a 50 day simple moving average of $79.75 and a two-hundred day simple moving average of $77.51.

Strattec Security (NASDAQ:STRT - Get Free Report) last announced its earnings results on Thursday, February 5th. The auto parts company reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.78. Strattec Security had a net margin of 4.63% and a return on equity of 12.33%. The business had revenue of $137.53 million during the quarter, compared to analysts' expectations of $132.29 million. As a group, equities analysts forecast that Strattec Security will post 6.25 earnings per share for the current year.

Institutional Trading of Strattec Security

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STRT. New York State Teachers Retirement System purchased a new stake in Strattec Security during the fourth quarter valued at approximately $27,000. State of Alaska Department of Revenue purchased a new stake in shares of Strattec Security in the fourth quarter worth $58,000. Bank of America Corp DE increased its stake in shares of Strattec Security by 137.9% in the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company's stock worth $91,000 after purchasing an additional 1,280 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Strattec Security in the second quarter worth $92,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Strattec Security in the second quarter worth $106,000. 68.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STRT. Zacks Research downgraded shares of Strattec Security from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Weiss Ratings restated a "buy (b)" rating on shares of Strattec Security in a research report on Friday, March 27th. Freedom Capital downgraded shares of Strattec Security from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research report on Sunday, February 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

About Strattec Security

Strattec Security Corporation is a Wisconsin‐based designer and manufacturer of mechanical and electronic locking systems for the global automotive market. Established more than five decades ago, the company supplies original equipment manufacturers (OEMs) and the aftermarket with a broad portfolio of lock and key solutions tailored to passenger cars, light trucks and commercial vehicles.

The company's product range includes mechanical locking systems such as door lock cylinders, ignition lock modules, key blanks and door handles, as well as electromechanical and keyless‐entry systems.

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