Strattec Security (NASDAQ:STRT) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Strattec Security's shares recently surpassed their 200-day moving average, trading at $68.06, indicating positive momentum in the stock's performance.
• Despite the stock's upward movement, Zacks Research has downgraded Strattec from a "hold" to a "strong sell" rating, showing mixed sentiments from analysts.
• The company reported earnings per share of $2.06 for the last quarter, significantly exceeding analysts' expectations of $1.07 and demonstrating strong revenue growth.

Shares of Strattec Security Corporation (NASDAQ:STRT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.46 and traded as high as $68.84. Strattec Security shares last traded at $68.06, with a volume of 113,846 shares.

Wall Street Analyst Weigh In

STRT has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Strattec Security from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Strattec Security currently has an average rating of "Sell".

Strattec Security Price Performance

The company has a 50 day moving average price of $67.96 and a 200-day moving average price of $55.46. The company has a market cap of $283.13 million, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.56 and a beta of 1.37. The company has a quick ratio of 1.89, a current ratio of 2.43 and a debt-to-equity ratio of 0.03.

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

Insider Transactions at Strattec Security

In other Strattec Security news, COO Rolando Guillot sold 22,890 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $65.86, for a total value of $1,507,535.40. Following the sale, the chief operating officer owned 5,541 shares in the company, valued at approximately $364,930.26. The trade was a 80.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.90% of the stock is currently owned by corporate insiders.

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 stock. Ameritas Investment Partners Inc. acquired a new stake in Strattec Security during the 2nd quarter valued at approximately $25,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Strattec Security in the 2nd quarter valued at $50,000. Russell Investments Group Ltd. acquired a new stake in shares of Strattec Security during the first quarter worth $91,000. Bank of America Corp DE raised its stake in Strattec Security by 137.9% during the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company's stock worth $91,000 after buying an additional 1,280 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Strattec Security in the second quarter valued at $92,000. 68.91% of the stock is owned by institutional investors and hedge funds.

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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