Universal Technical Institute (NYSE:UTI) Shares Gap Up Following Earnings Beat

Universal Technical Institute, Inc. (NYSE:UTI - Get Free Report)'s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $28.39, but opened at $30.55. Universal Technical Institute shares last traded at $28.95, with a volume of 119,003 shares changing hands.

The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.22. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%.

Analysts Set New Price Targets

Several research firms recently weighed in on UTI. Rosenblatt Securities lifted their price objective 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 company an "outperform" rating in a research report on Thursday. B. Riley increased their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Barrington Research upped their price objective on shares of Universal Technical Institute from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Truist Financial upped their price target on shares of Universal Technical Institute from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $31.17.

Insider Buying and Selling at Universal Technical Institute

In related news, Director Kenneth R. Trammell sold 30,000 shares of Universal Technical Institute stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.92, for a total transaction of $777,600.00. Following the completion of the transaction, the director now directly owns 128,205 shares in the company, valued at approximately $3,323,073.60. This trade represents a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.10% of the company's stock.

Hedge Funds Weigh In On Universal Technical Institute

Several large investors have recently made changes to their positions in the company. Covestor Ltd boosted its stake in shares of Universal Technical Institute by 6,256.0% during the 3rd quarter. Covestor Ltd now owns 1,589 shares of the company's stock worth $26,000 after acquiring an additional 1,564 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Universal Technical Institute during the fourth quarter worth approximately $79,000. Quarry LP grew its holdings in Universal Technical Institute by 380.6% in the third quarter. Quarry LP now owns 3,859 shares of the company's stock valued at $63,000 after purchasing an additional 3,056 shares during the period. International Assets Investment Management LLC increased its position in shares of 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 buying an additional 3,815 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in shares of Universal Technical Institute by 822,000.0% during the 4th quarter. AlphaQuest LLC now owns 8,221 shares of the company's stock worth $211,000 after buying an additional 8,220 shares during the period. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Universal Technical Institute Stock Performance

The firm's fifty day moving average is $26.20 and its 200 day moving average is $20.77. The company has a market cap of $1.58 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.45. The company has a current ratio of 1.14, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

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.