Universal Technical Institute (NYSE:UTI) Sets New 12-Month High on Strong Earnings

Universal Technical Institute, Inc. (NYSE:UTI)’s stock price hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $28.97 and last traded at $28.95, with a volume of 847443 shares trading hands. The stock had previously closed at $27.32.

The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. Universal Technical Institute had a net margin of 5.34% and a return on equity of 16.41%.

Analyst Ratings Changes

Several analysts have recently weighed in on UTI shares. Truist Financial boosted their price objective on shares of Universal Technical Institute from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities boosted their target price on Universal Technical Institute from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. Northland Securities increased their price target on shares of Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday. Lake Street Capital raised their price objective on shares of Universal Technical Institute from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday. Finally, B. Riley lifted their price objective on Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $31.17.

Insiders Place Their Bets

In other Universal Technical Institute news, Director Kenneth R. Trammell sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.92, for a total value of $777,600.00. Following the sale, the director now directly owns 128,205 shares of the company’s stock, valued at approximately $3,323,073.60. This trade represents a 18.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UTI. Covestor Ltd increased its position in Universal Technical Institute by 6,256.0% during the third quarter. Covestor Ltd now owns 1,589 shares of the company’s stock worth $26,000 after purchasing an additional 1,564 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Universal Technical Institute by 9.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,928 shares of the company’s stock worth $389,000 after buying an additional 2,083 shares during the period. Principal Financial Group Inc. boosted its holdings 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 valued at $684,000 after acquiring an additional 2,335 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Universal Technical Institute by 27.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,118 shares of the company’s stock valued at $197,000 after acquiring an additional 2,596 shares during the period. Finally, Inspire Investing LLC increased its stake in Universal Technical Institute by 13.5% during the third quarter. Inspire Investing LLC now owns 25,556 shares of the company’s stock worth $416,000 after acquiring an additional 3,032 shares during the last quarter. 75.67% of the stock is currently owned by hedge funds and other institutional investors.

Universal Technical Institute Trading Up 4.0 %

The company has a market capitalization of $1.61 billion, a PE ratio of 39.89, a P/E/G ratio of 1.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.08 and a current ratio of 1.08. The business has a fifty day moving average price of $26.13 and a 200 day moving average price of $20.67.

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.