Rhumbline Advisers Decreases Stock Holdings in Universal Technical Institute Inc $UTI

Rhumbline Advisers lessened its position in shares of Universal Technical Institute Inc (NYSE:UTI) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,305 shares of the company’s stock after selling 12,102 shares during the quarter. Rhumbline Advisers owned 0.11% of Universal Technical Institute worth $1,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Universal Technical Institute by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 3,052,652 shares of the company’s stock worth $78,392,000 after acquiring an additional 306,984 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Universal Technical Institute by 58.3% in the first quarter. Lord Abbett & CO. LLC now owns 2,924,499 shares of the company’s stock worth $75,101,000 after acquiring an additional 1,077,076 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Universal Technical Institute by 38.1% in the 1st quarter. American Century Companies Inc. now owns 1,343,822 shares of the company’s stock worth $34,509,000 after purchasing an additional 370,660 shares during the period. Next Century Growth Investors LLC boosted its stake in shares of Universal Technical Institute by 5.8% during the 1st quarter. Next Century Growth Investors LLC now owns 1,049,742 shares of the company’s stock worth $26,957,000 after purchasing an additional 57,990 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Universal Technical Institute during the first quarter valued at approximately $20,631,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Price Performance

Universal Technical Institute stock opened at $28.60 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $28.78 and a 200-day simple moving average of $29.81. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.74 and a beta of 1.65. Universal Technical Institute Inc has a 52-week low of $15.14 and a 52-week high of $36.32.

Universal Technical Institute (NYSE:UTI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.07. Universal Technical Institute had a return on equity of 22.12% and a net margin of 7.79%.The company had revenue of $204.30 million during the quarter, compared to analyst estimates of $200.01 million. On average, equities analysts anticipate that Universal Technical Institute Inc will post 1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Universal Technical Institute in a report on Tuesday, July 29th. Truist Financial increased their price objective on shares of Universal Technical Institute from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded Universal Technical Institute from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $36.00 target price on shares of Universal Technical Institute in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $35.83.

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.