Strattec Security (NASDAQ:STRT) Raised to Strong-Buy at Wall Street Zen

Key Points

• Strattec Security has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased positive outlook from analysts.
• Contrarily, Zacks Research has downgraded the stock to a "strong sell," leading to an average rating of "Sell" for Strattec Security.
• The company's recent earnings report showed an EPS of $2.06, significantly exceeding analysts' expectations, along with higher revenue than projected.

Strattec Security (NASDAQ:STRT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Monday.

Separately, Zacks Research downgraded Strattec Security from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Strattec Security currently has an average rating of "Sell".

Strattec Security Trading Down 0.6%

NASDAQ:STRT opened at $65.87 on Monday. The company has a quick ratio of 1.89, a current ratio of 2.43 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $65.94 and its two-hundred day moving average is $52.36. Strattec Security has a 52 week low of $31.57 and a 52 week high of $83.00. The company has a market cap of $274.02 million, a PE ratio of 14.41, a P/E/G ratio of 1.55 and a beta of 1.37.

Strattec Security (NASDAQ:STRT - Get Free Report) last released its earnings results on Thursday, August 14th. The auto parts company reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.99. Strattec Security had a return on equity of 8.95% and a net margin of 3.31%.The company had revenue of $152.01 million for the quarter, compared to the consensus estimate of $143.51 million. On average, analysts predict that Strattec Security will post 3.67 EPS for the current year.

Institutional Trading of Strattec Security

Several hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors bought a new stake in shares of Strattec Security in the 2nd quarter worth approximately $225,000. Lazard Asset Management LLC lifted its holdings in shares of Strattec Security by 414.3% in the 2nd quarter. Lazard Asset Management LLC now owns 13,500 shares of the auto parts company's stock worth $839,000 after purchasing an additional 10,875 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Strattec Security by 420.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,464 shares of the auto parts company's stock worth $153,000 after purchasing an additional 1,991 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Strattec Security by 3.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 42,613 shares of the auto parts company's stock worth $2,651,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Strattec Security in the 2nd quarter worth approximately $1,806,000. 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.

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