Universal Technical Institute (NYSE:UTI) Sets New 12-Month High After Analyst Upgrade

Universal Technical Institute, Inc. (NYSE:UTI) shares reached a new 52-week high on Friday after B. Riley raised their price target on the stock from $22.00 to $25.00. B. Riley currently has a buy rating on the stock. Universal Technical Institute traded as high as $19.86 and last traded at $19.79, with a volume of 80714 shares changing hands. The stock had previously closed at $19.41.

Other equities analysts have also issued research reports about the company. StockNews.com upgraded Universal Technical Institute from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Universal Technical Institute in a report on Wednesday, September 11th. Truist Financial initiated coverage on shares of Universal Technical Institute in a research report on Thursday, July 25th. They issued a “buy” rating and a $22.00 price target for the company. Northland Securities increased their price target on Universal Technical Institute from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Universal Technical Institute in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Universal Technical Institute currently has a consensus rating of “Buy” and a consensus target price of $22.20.

Insider Activity at Universal Technical Institute

In other news, CEO Jerome Alan Grant sold 68,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the completion of the transaction, the chief executive officer now owns 136,443 shares of the company’s stock, valued at approximately $2,391,845.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Technical Institute

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Universal Technical Institute by 65.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 100,080 shares of the company’s stock worth $1,627,000 after acquiring an additional 39,646 shares during the last quarter. RiverPark Advisors LLC lifted its holdings in shares of Universal Technical Institute by 309.5% during the third quarter. RiverPark Advisors LLC now owns 11,070 shares of the company’s stock worth $180,000 after purchasing an additional 8,367 shares during the period. Empowered Funds LLC grew its stake in shares of Universal Technical Institute by 5.3% in the third quarter. Empowered Funds LLC now owns 214,215 shares of the company’s stock worth $3,483,000 after purchasing an additional 10,854 shares during the last quarter. Versor Investments LP bought a new stake in shares of Universal Technical Institute in the third quarter worth $242,000. Finally, Covestor Ltd increased its holdings in Universal Technical Institute by 6,256.0% in the third quarter. Covestor Ltd now owns 1,589 shares of the company’s stock valued at $26,000 after purchasing an additional 1,564 shares during the period. Institutional investors and hedge funds own 75.67% of the company’s stock.

Universal Technical Institute Stock Performance

The company has a 50-day moving average of $16.52 and a 200-day moving average of $16.29. The firm has a market capitalization of $1.09 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 1.39 and a beta of 1.34. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Universal Technical Institute (NYSE:UTI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $177.46 million for the quarter, compared to analyst estimates of $172.33 million. Universal Technical Institute had a return on equity of 12.66% and a net margin of 3.82%. During the same period in the previous year, the firm earned ($0.05) earnings per share. On average, equities analysts anticipate that Universal Technical Institute, Inc. will post 0.71 earnings per share for the current fiscal year.

About Universal Technical Institute

Universal Technical Institute, Inc provides transportation, skilled trades, and healthcare education programs in the United States. The company operates in two segments, UTI and Concorde. It offers certificate, diploma, or degree programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.