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

Shares of Strattec Security Corporation (NASDAQ:STRT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $78.94 and traded as high as $81.30. Strattec Security shares last traded at $79.48, with a volume of 117,569 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Zacks Research cut shares of Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. Wall Street Zen downgraded shares of Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Freedom Capital upgraded shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Strattec Security Stock Performance

The stock has a 50-day simple moving average of $75.25 and a two-hundred day simple moving average of $78.94. The firm has a market cap of $332.15 million, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.30 and a beta of 1.17.

Strattec Security (NASDAQ:STRT) last announced 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). Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. The company had revenue of $137.63 million for the quarter, compared to analysts’ expectations of $140.35 million. As a group, sell-side analysts anticipate that Strattec Security Corporation will post 6.12 EPS for the current fiscal year.

Strattec Security declared that its Board of Directors has authorized a share buyback plan on Thursday, May 28th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 12.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Matthew Pauli bought 2,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $62.53 per share, with a total value of $125,060.00. Following the transaction, the chief financial officer owned 2,000 shares in the company, valued at approximately $125,060. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jennifer Lynn Slater bought 801 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $62.46 per share, with a total value of $50,030.46. Following the completion of the purchase, the chief executive officer owned 57,924 shares in the company, valued at approximately $3,617,933.04. The trade was a 1.40% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 4,598 shares of company stock valued at $286,440. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of STRT. New York State Teachers Retirement System bought a new position in shares of Strattec Security in the 4th quarter worth approximately $27,000. State of Alaska Department of Revenue bought a new position in Strattec Security in the fourth quarter worth approximately $58,000. Raymond James Financial Inc. purchased a new position in shares of Strattec Security during the 2nd quarter worth $92,000. New York State Common Retirement Fund bought a new stake in shares of Strattec Security during the 2nd quarter valued at $106,000. Finally, SG Americas Securities LLC bought a new stake in shares of Strattec Security during the 4th quarter valued at $134,000. Institutional investors own 68.91% of the company’s stock.

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.