Strattec Security (NASDAQ:STRT) Releases Earnings Results, Beats Estimates By $0.38 EPS

Strattec Security (NASDAQ:STRT) announced its earnings results on Thursday. The auto parts company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.38, FiscalAI reports. Strattec Security had a net margin of 3.56% and a return on equity of 10.79%. The company had revenue of $147.20 million for the quarter, compared to analyst estimates of $146.60 million.

Strattec Security Stock Up 0.6%

Shares of Strattec Security stock traded up $0.40 during trading on Thursday, reaching $64.38. 57,447 shares of the company were exchanged, compared to its average volume of 79,821. The business has a 50-day moving average price of $68.08 and a 200-day moving average price of $77.17. The firm has a market capitalization of $256.23 million, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.43 and a beta of 1.23. Strattec Security has a twelve month low of $57.01 and a twelve month high of $93.00.

Wall Street Analysts Forecast Growth

STRT has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research report on Monday, September 21st. Freedom Broker lowered Strattec Security from a “buy” rating to a “hold” rating and decreased their price objective for the company from $89.00 to $83.00 in a research report on Monday, August 31st. Finally, Zacks Research cut Strattec Security from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

About Strattec Security

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.