Universal Technical Institute (NYSE:UTI) Price Target Raised to $40.00

Universal Technical Institute (NYSE:UTI) had its target price raised by Truist Financial from $37.00 to $40.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on UTI. B. Riley assumed coverage on shares of Universal Technical Institute in a report on Friday, March 28th. They set a “buy” rating and a $31.00 price target on the stock. Barrington Research upped their price objective on shares of Universal Technical Institute from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Northland Securities upped their price objective on shares of Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Lake Street Capital upped their price objective on shares of Universal Technical Institute from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating and set a $36.00 price objective on shares of Universal Technical Institute in a research report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $35.83.

Universal Technical Institute Stock Performance

Shares of NYSE UTI opened at $34.97 on Thursday. The company’s fifty day moving average price is $28.91 and its 200 day moving average price is $26.90. Universal Technical Institute has a 1 year low of $13.66 and a 1 year high of $36.32. The company has a market capitalization of $1.90 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 1.92 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.14.

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

Insider Activity

In other news, COO Todd A. Hitchcock sold 27,500 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $33.36, for a total value of $917,400.00. Following the completion of the sale, the chief operating officer now directly owns 80,521 shares in the company, valued at $2,686,180.56. This represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George W. Brochick sold 8,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $27.59, for a total transaction of $220,720.00. Following the completion of the sale, the director now owns 34,917 shares of the company’s stock, valued at $963,360.03. This trade represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,024 shares of company stock worth $3,686,890 over the last three months. Insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Universal Technical Institute

A number of hedge funds have recently modified their holdings of the business. Precision Wealth Strategies LLC purchased a new stake in shares of Universal Technical Institute in the fourth quarter valued at about $632,000. Rhumbline Advisers grew its holdings in shares of Universal Technical Institute by 37.4% in the fourth quarter. Rhumbline Advisers now owns 71,407 shares of the company’s stock valued at $1,836,000 after purchasing an additional 19,453 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Universal Technical Institute by 9.6% in the fourth quarter. Principal Financial Group Inc. now owns 26,623 shares of the company’s stock valued at $684,000 after purchasing an additional 2,335 shares during the period. Pembroke Management LTD grew its holdings in shares of Universal Technical Institute by 22.6% in the fourth quarter. Pembroke Management LTD now owns 503,007 shares of the company’s stock valued at $12,932,000 after purchasing an additional 92,844 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in shares of Universal Technical Institute by 19.7% in the fourth quarter. New York State Common Retirement Fund now owns 88,222 shares of the company’s stock valued at $2,268,000 after purchasing an additional 14,517 shares during the period. 75.67% of the stock is currently owned by institutional investors and hedge funds.

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.