Universal Technical Institute (NYSE:UTI) Shares Gap Down – Should You Sell?

Universal Technical Institute, Inc. (NYSE:UTI) shares gapped down before the market opened on Tuesday . The stock had previously closed at $26.44, but opened at $24.83. Universal Technical Institute shares last traded at $23.94, with a volume of 496,802 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UTI. StockNews.com upgraded shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Barrington Research increased their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial boosted their price target 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. Lake Street Capital boosted their target price on Universal Technical Institute from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, B. Riley increased their price target on Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $25.33.

Universal Technical Institute Price Performance

The stock has a fifty day simple moving average of $18.50 and a 200-day simple moving average of $17.14. The company has a market capitalization of $1.31 billion, a PE ratio of 32.65, a P/E/G ratio of 1.79 and a beta of 1.48. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In other news, Director Kenneth R. Trammell sold 30,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total transaction of $777,600.00. Following the completion of the sale, the director now owns 128,205 shares in the company, valued at approximately $3,323,073.60. This represents a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 27.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Covestor Ltd boosted its stake in shares of Universal Technical Institute by 6,256.0% in the third quarter. Covestor Ltd now owns 1,589 shares of the company’s stock valued at $26,000 after buying an additional 1,564 shares in the last quarter. Pullen Investment Management LLC lifted its stake in shares of Universal Technical Institute by 2.9% in the second quarter. Pullen Investment Management LLC now owns 56,420 shares of the company’s stock valued at $887,000 after purchasing an additional 1,600 shares during the period. ClariVest Asset Management LLC boosted its holdings in Universal Technical Institute by 2.7% during the second quarter. ClariVest Asset Management LLC now owns 77,231 shares of the company’s stock worth $1,215,000 after buying an additional 2,060 shares in the last quarter. BNP Paribas Financial Markets grew its position in Universal Technical Institute by 9.5% during the third 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Universal Technical Institute by 27.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,118 shares of the company’s stock valued at $197,000 after buying an additional 2,596 shares in the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.

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.