Universal Technical Institute (NYSE:UTI) Reaches New 1-Year High After Better-Than-Expected Earnings

Universal Technical Institute, Inc. (NYSE:UTI) hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.22. Universal Technical Institute had a return on equity of 16.41% and a net margin of 5.34%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on UTI. Northland Securities lifted their price target on Universal Technical Institute from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday. Rosenblatt Securities raised their price target on Universal Technical Institute from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial increased their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. B. Riley increased their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Barrington Research boosted their target price on Universal Technical Institute from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.17.

Insider Activity at Universal Technical Institute

In related news, Director Kenneth R. Trammell sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total transaction of $777,600.00. Following the transaction, the director now owns 128,205 shares of the company’s stock, valued at approximately $3,323,073.60. The trade was a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.10% of the stock is owned by company insiders.

Institutional Trading of Universal Technical Institute

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in shares of Universal Technical Institute by 30.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,038 shares of the company’s stock worth $237,000 after purchasing an additional 3,482 shares in the last quarter. SG Americas Securities LLC acquired a new position in Universal Technical Institute during the 3rd quarter valued at about $243,000. Inspire Investing LLC grew its holdings in Universal Technical Institute by 13.5% during the 3rd 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 period. International Assets Investment Management LLC increased its holdings in Universal Technical Institute by 1,526.0% in the third quarter. International Assets Investment Management LLC now owns 4,065 shares of the company’s stock valued at $66,000 after purchasing an additional 3,815 shares during the last quarter. Finally, Pullen Investment Management LLC raised its position in shares of Universal Technical Institute by 15.5% in the 3rd quarter. Pullen Investment Management LLC now owns 65,160 shares of the company’s stock valued at $1,060,000 after acquiring an additional 8,740 shares during the period. Institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Trading Up 4.0 %

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $26.13 and its two-hundred day simple moving average is $20.67. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45.

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.