Universal Technical Institute, Inc. (NYSE:UTI) Sees Significant Drop in Short Interest

Universal Technical Institute, Inc. (NYSE:UTI - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,710,000 shares, a drop of 16.6% from the March 15th total of 2,050,000 shares. Based on an average trading volume of 757,300 shares, the days-to-cover ratio is presently 2.3 days. Approximately 3.7% of the shares of the company are sold short.

Universal Technical Institute Stock Down 0.5 %

Shares of UTI stock traded down $0.14 on Thursday, hitting $27.82. The stock had a trading volume of 429,231 shares, compared to its average volume of 563,156. Universal Technical Institute has a 52-week low of $13.66 and a 52-week high of $30.56. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.92 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.14. The stock's 50 day moving average is $26.98 and its 200-day moving average is $24.61.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.22. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. As a group, research analysts expect that Universal Technical Institute will post 1 earnings per share for the current year.

Insider Activity

In related news, Director George W. Brochick sold 8,000 shares of Universal Technical Institute stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $27.59, for a total value 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. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sherrell Smith sold 39,446 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $27.85, for a total transaction of $1,098,571.10. Following the completion of the transaction, the executive vice president now directly owns 177,912 shares in the company, valued at approximately $4,954,849.20. The trade was a 18.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,524 shares of company stock valued at $2,578,450 in the last 90 days. 15.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Technical Institute

Institutional investors have recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Universal Technical Institute during the third quarter valued at about $152,000. State Street Corp lifted its holdings in Universal Technical Institute by 3.6% in the 3rd quarter. State Street Corp now owns 856,091 shares of the company's stock valued at $13,920,000 after acquiring an additional 29,461 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Universal Technical Institute by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 952,799 shares of the company's stock worth $15,496,000 after purchasing an additional 85,417 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Universal Technical Institute in the 3rd quarter worth approximately $794,000. Finally, Lord Abbett & CO. LLC bought a new stake in Universal Technical Institute during the third quarter worth approximately $10,217,000. Institutional investors own 75.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UTI. B. Riley began coverage on shares of Universal Technical Institute in a research report on Friday, March 28th. They set a "buy" rating and a $31.00 target price for the company. Rosenblatt Securities boosted their price target on Universal Technical Institute from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Northland Securities raised their price target 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. Barrington Research reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Universal Technical Institute in a research note on Thursday, April 17th. Finally, Lake Street Capital increased their target price on Universal Technical Institute from $22.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $32.17.

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.