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

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

The company reported $0.40 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%.

Analyst Upgrades and Downgrades

Several brokerages have commented on UTI. Barrington Research upped their price objective on Universal Technical Institute from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday. Truist Financial upped their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Rosenblatt Securities boosted 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. Northland Securities raised their price objective on Universal Technical Institute from $30.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Lake Street Capital upped their target price on Universal Technical Institute from $22.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Universal Technical Institute presently has an average rating of "Buy" and an average price target of $31.17.

Insider Buying and Selling

In other Universal Technical Institute news, Director Kenneth R. Trammell sold 30,000 shares of Universal Technical Institute stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total value of $777,600.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in Universal Technical Institute by 30.1% during the second quarter. The Manufacturers Life Insurance Company now owns 15,038 shares of the company's stock worth $237,000 after buying an additional 3,482 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Universal Technical Institute during the third quarter worth about $243,000. Inspire Investing LLC grew its stake in shares of Universal Technical Institute by 13.5% in the 3rd quarter. Inspire Investing LLC now owns 25,556 shares of the company's stock valued at $416,000 after buying an additional 3,032 shares during the period. International Assets Investment Management LLC raised its position in shares of Universal Technical Institute by 1,526.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,065 shares of the company's stock valued at $66,000 after buying an additional 3,815 shares during the period. Finally, Pullen Investment Management LLC lifted its holdings in Universal Technical Institute by 15.5% in the third 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 last quarter. Institutional investors and hedge funds own 75.67% of the company's stock.

Universal Technical Institute Stock Up 0.4 %

The firm has a 50-day moving average of $26.20 and a two-hundred day moving average of $20.74. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.61 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.99 and a beta of 1.45.

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.