Strattec Security (NASDAQ:STRT) Shares Cross Above 200-Day Moving Average – Here’s Why

Strattec Security Corporation (NASDAQ:STRT) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $79.12 and traded as high as $81.38. Strattec Security shares last traded at $79.25, with a volume of 46,684 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STRT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a research report on Friday, March 27th. Freedom Capital raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Zacks Research downgraded Strattec Security from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Strattec Security Trading Up 0.1%

The company has a market cap of $336.70 million, a PE ratio of 13.29, a P/E/G ratio of 1.31 and a beta of 1.17. The firm’s 50-day simple moving average is $75.26 and its two-hundred day simple moving average is $79.13.

Strattec Security (NASDAQ:STRT) last posted its quarterly earnings results on Thursday, May 7th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.24). The company had revenue of $137.63 million during the quarter, compared to analysts’ expectations of $140.35 million. Strattec Security had a return on equity of 11.00% and a net margin of 4.31%. As a group, analysts predict that Strattec Security Corporation will post 6.12 EPS for the current year.

Strattec Security announced that its board has approved a share buyback program on Thursday, May 28th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the auto parts company to buy up to 12.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Strattec Security

In other Strattec Security news, CEO Jennifer Lynn Slater acquired 801 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $62.46 per share, with a total value of $50,030.46. Following the acquisition, the chief executive officer directly owned 57,924 shares of the company’s stock, valued at approximately $3,617,933.04. The trade was a 1.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederic Jack Liebau, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $61.37 per share, for a total transaction of $61,370.00. Following the completion of the acquisition, the director directly owned 7,748 shares in the company, valued at approximately $475,494.76. The trade was a 14.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 4,598 shares of company stock worth $286,440 over the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd grew its position in Strattec Security by 1.1% during the 4th quarter. WINTON GROUP Ltd now owns 11,507 shares of the auto parts company’s stock worth $876,000 after purchasing an additional 122 shares during the period. Deutsche Bank AG boosted its stake in shares of Strattec Security by 6.3% in the fourth quarter. Deutsche Bank AG now owns 2,907 shares of the auto parts company’s stock worth $221,000 after buying an additional 172 shares during the last quarter. Bailard Inc. boosted its stake in shares of Strattec Security by 5.0% in the fourth quarter. Bailard Inc. now owns 4,200 shares of the auto parts company’s stock worth $320,000 after buying an additional 200 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Strattec Security by 3.8% in the third quarter. NewEdge Advisors LLC now owns 5,652 shares of the auto parts company’s stock worth $385,000 after buying an additional 207 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Strattec Security during the fourth quarter worth about $27,000. 68.91% of the stock is currently owned by institutional investors and hedge funds.

Strattec Security Company Profile

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.