Strattec Security (NASDAQ:STRT) Issues Quarterly Earnings Results

Strattec Security (NASDAQ:STRT) released its earnings results on Thursday. The auto parts company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.38, FiscalAI reports. The firm had revenue of $147.20 million during the quarter, compared to the consensus estimate of $146.60 million. Strattec Security had a net margin of 2.94% and a return on equity of 10.06%.

Strattec Security Trading Down 2.6%

STRT traded down $1.65 during trading on Friday, hitting $62.73. 138,026 shares of the company’s stock were exchanged, compared to its average volume of 54,621. Strattec Security has a 1 year low of $57.01 and a 1 year high of $93.00. The stock has a 50 day moving average price of $67.43 and a 200 day moving average price of $77.01. The firm has a market cap of $249.67 million, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23.

Analyst Ratings Changes

Several brokerages have recently issued reports on STRT. Freedom Broker cut shares of Strattec Security from a “buy” rating to a “hold” rating and lowered their price objective for the company from $89.00 to $83.00 in a research note on Monday, August 31st. Zacks Research cut Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Strattec Security Company Profile

Strattec Security Corporation (NASDAQ: STRT) designs and manufactures automotive access, security and vehicle-control products. Its offerings include mechanical and electronic locks, latches, keys, ignition systems, power-liftgate and sliding-door systems, actuators, and related security components used in passenger vehicles and commercial vehicles.

The company supplies automotive original equipment manufacturers and other transportation-industry customers. Its products are developed for applications such as vehicle entry, theft deterrence, body access and electronic control, and are produced and supported through operations in North America and other international locations.

Strattec traces its history to the early automotive components industry and became an independent publicly traded company after being spun off from Briggs & Stratton Corporation in 1995.