Strattec Security (NASDAQ:STRT) Lowered to "Strong Sell" Rating by 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 note issued to investors on Tuesday,Zacks.com reports.

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

Strattec Security Price Performance

Shares of Strattec Security stock traded up $1.08 during midday trading on Tuesday, hitting $67.50. 117,785 shares of the company were exchanged, compared to its average volume of 126,570. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.33 and a quick ratio of 1.72. The firm has a market cap of $281.48 million, a P/E ratio of 14.77, a PEG ratio of 1.59 and a beta of 1.30. Strattec Security has a 52 week low of $31.57 and a 52 week high of $83.00. The firm has a 50 day simple moving average of $65.27 and a 200-day simple moving average of $51.56.

Strattec Security (NASDAQ:STRT - Get Free Report) last posted its earnings results on Thursday, August 14th. The auto parts company reported $2.06 EPS for the quarter, topping 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 business had revenue of $152.01 million during the quarter, compared to the consensus estimate of $143.51 million. Research analysts forecast that Strattec Security will post 3.67 earnings per share for the current year.

Hedge Funds Weigh In On Strattec Security

Institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. bought a new position in Strattec Security in the 2nd quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey bought a new position in Strattec Security in the second quarter valued at about $50,000. Tower Research Capital LLC TRC bought a new position in Strattec Security in the fourth quarter valued at about $33,000. Raymond James Financial Inc. bought a new position in Strattec Security in the second quarter valued at about $92,000. Finally, New York State Common Retirement Fund bought a new position in Strattec Security in the second quarter valued at about $106,000. Institutional investors own 68.91% of the company's stock.

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.