Universal Technical Institute (NYSE:UTI) Sets New 1-Year High After Earnings Beat

Universal Technical Institute, Inc. (NYSE:UTI) shares reached 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 changing hands. The stock had previously closed at $27.32.

The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.22. Universal Technical Institute had a net margin of 5.34% and a return on equity of 16.41%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UTI shares. Barrington Research increased 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. Lake Street Capital raised their price objective on Universal Technical Institute from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. Northland Securities upped their price target on Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday. Rosenblatt Securities raised their price objective on shares of Universal Technical Institute from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday. Finally, B. Riley lifted their price objective on Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.17.

Insider Buying and Selling at Universal Technical Institute

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 value of $777,600.00. Following the completion of the transaction, the director now owns 128,205 shares in the company, valued at $3,323,073.60. This trade represents a 18.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Universal Technical Institute

Several hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its stake in shares of Universal Technical Institute by 6,256.0% during 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 during the period. Arcadia Investment Management Corp MI acquired a new stake in Universal Technical Institute during the fourth quarter worth about $79,000. Quarry LP increased its position in Universal Technical Institute by 380.6% during the 3rd quarter. Quarry LP now owns 3,859 shares of the company’s stock worth $63,000 after purchasing an additional 3,056 shares in the last quarter. 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 worth $66,000 after acquiring an additional 3,815 shares in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Universal Technical Institute during the 4th quarter valued at $212,000. 75.67% of the stock is currently owned by hedge funds and other institutional investors.

Universal Technical Institute Stock Up 4.0 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $1.61 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45. The firm has a 50-day simple moving average of $26.13 and a 200 day simple moving average of $20.67.

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.