Comerica Bank Increases Stake in Universal Technical Institute, Inc. (NYSE:UTI)

Comerica Bank boosted its stake in Universal Technical Institute, Inc. (NYSE:UTI) by 5,171.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,072 shares of the company’s stock after purchasing an additional 11,843 shares during the period. Comerica Bank’s holdings in Universal Technical Institute were worth $310,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in Universal Technical Institute by 24.4% in the fourth quarter. Covestor Ltd now owns 1,977 shares of the company’s stock worth $51,000 after acquiring an additional 388 shares during the period. Independent Advisor Alliance grew its stake in Universal Technical Institute by 4.4% in the fourth quarter. Independent Advisor Alliance now owns 12,157 shares of the company’s stock worth $313,000 after purchasing an additional 507 shares during the period. MetLife Investment Management LLC grew its stake in Universal Technical Institute by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 23,962 shares of the company’s stock worth $616,000 after purchasing an additional 1,294 shares during the period. Principal Financial Group Inc. grew its stake in Universal Technical Institute by 9.6% in the fourth quarter. Principal Financial Group Inc. now owns 26,623 shares of the company’s stock worth $684,000 after purchasing an additional 2,335 shares during the period. Finally, Arcadia Investment Management Corp MI purchased a new stake in Universal Technical Institute in the fourth quarter worth $79,000. 75.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on UTI shares. Northland Securities upped their price target on Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Barrington Research upped their price target on Universal Technical Institute from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $36.00 price target on shares of Universal Technical Institute in a research note on Thursday, May 8th. B. Riley started coverage on Universal Technical Institute in a research note on Friday, March 28th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Lake Street Capital upped their price target on Universal Technical Institute from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.00.

Universal Technical Institute Trading Up 2.5%

Universal Technical Institute stock opened at $34.58 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $28.07 and its two-hundred day simple moving average is $26.22. Universal Technical Institute, Inc. has a 12 month low of $13.66 and a 12 month high of $35.49. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.57.

Universal Technical Institute (NYSE:UTI) last released its earnings results on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. The business had revenue of $207.45 million for the quarter, compared to the consensus estimate of $196.63 million. As a group, equities analysts predict that Universal Technical Institute, Inc. will post 1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director George W. Brochick sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $27.59, for a total transaction of $220,720.00. Following the transaction, the director now directly owns 34,917 shares of the company’s stock, valued at $963,360.03. This represents a 18.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Todd A. Hitchcock sold 27,500 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $33.36, for a total value of $917,400.00. Following the transaction, the chief operating officer now directly owns 80,521 shares in the company, valued at approximately $2,686,180.56. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,024 shares of company stock valued at $3,686,890 over the last ninety days. 15.10% of the stock is currently owned by corporate insiders.

Universal Technical Institute Company Profile

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.