Strattec Security (NASDAQ:STRT) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research has downgraded Strattec Security from a "hold" rating to a "strong sell" rating, highlighting increasing concerns about the company's stock performance.
• Despite the downgrade, Wall Street Zen upgraded Strattec Security to a "strong-buy" rating earlier in August, indicating conflicting analyst perspectives on the stock.
• Strattec Security reported a strong earnings performance, with an EPS of $2.06 for the most recent quarter, surpassing consensus estimates significantly.

Zacks Research downgraded shares of Strattec Security (NASDAQ:STRT - Free Report) from a hold rating to a strong sell rating in a research report released on Tuesday, August 19th,Zacks.com reports.

Separately, Wall Street Zen raised Strattec Security from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Strattec Security Stock Up 4.1%

NASDAQ:STRT traded up $2.59 during mid-day trading on Tuesday, hitting $65.42. The company had a trading volume of 38,305 shares, compared to its average volume of 58,254. The business has a fifty day simple moving average of $65.33 and a 200-day simple moving average of $51.84. The company has a current ratio of 2.33, a quick ratio of 1.72 and a debt-to-equity ratio of 0.06. Strattec Security has a 1 year low of $31.57 and a 1 year high of $83.00. The firm has a market capitalization of $272.80 million, a price-to-earnings ratio of 14.32, a PEG ratio of 1.59 and a beta of 1.30.

Strattec Security (NASDAQ:STRT - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The auto parts company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.07 by $0.99. Strattec Security had a return on equity of 9.11% and a net margin of 3.31%.The company had revenue of $152.01 million for the quarter, compared to analyst estimates of $143.51 million. Equities analysts forecast that Strattec Security will post 3.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Strattec Security

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. bought a new position in Strattec Security in the 2nd quarter worth approximately $25,000. Police & Firemen s Retirement System of New Jersey bought a new position in Strattec Security in the 2nd quarter worth approximately $50,000. Tower Research Capital LLC TRC bought a new position in Strattec Security in the 4th quarter worth approximately $33,000. Raymond James Financial Inc. bought a new position in Strattec Security in the 2nd quarter worth approximately $92,000. Finally, New York State Common Retirement Fund bought a new position in Strattec Security in the 2nd quarter worth approximately $106,000. 68.91% of the stock is owned by institutional investors.

Strattec Security Company Profile

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.