Universal Technical Institute (NYSE:UTI) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Universal Technical Institute, Inc. (NYSE:UTI) 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 traded.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Northland Securities increased 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. Rosenblatt Securities lifted their price target on shares of Universal Technical Institute from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. Lake Street Capital upped their price objective on shares of Universal Technical Institute from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial upped their price objective on Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Barrington Research lifted their target price on Universal Technical Institute from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Universal Technical Institute presently has an average rating of “Buy” and a consensus price target of $31.17.

Insider Activity

In related news, Director Kenneth R. Trammell sold 30,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 128,205 shares in the company, valued at approximately $3,323,073.60. The trade was a 18.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UTI. Geode Capital Management LLC boosted its position in shares of Universal Technical Institute by 9.8% in the third 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 period. FMR LLC lifted its stake in shares of Universal Technical Institute by 73,048.1% during the 3rd quarter. FMR LLC now owns 879,240 shares of the company’s stock valued at $14,296,000 after buying an additional 878,038 shares in the last quarter. State Street Corp boosted 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 worth $13,920,000 after buying an additional 29,461 shares during the period. Hennessy Advisors Inc. increased its stake in Universal Technical Institute by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 690,900 shares of the company’s stock worth $17,763,000 after buying an additional 44,100 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Universal Technical Institute in the 3rd quarter worth $10,217,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Trading Up 4.0 %

The stock has a fifty day simple moving average of $26.13 and a 200 day simple moving average of $20.67. The firm has a market capitalization of $1.61 billion, a P/E ratio of 39.89, a PEG ratio of 1.90 and a beta of 1.45. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.47.

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.