Universal Technical Institute (NYSE:UTI) Shares Gap Down to $16.41

Universal Technical Institute, Inc. (NYSE:UTI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $16.41, but opened at $15.51. Universal Technical Institute shares last traded at $15.76, with a volume of 114,546 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com raised Universal Technical Institute from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Barrington Research reaffirmed an “outperform” rating and set a $22.00 target price on shares of Universal Technical Institute in a report on Wednesday, August 7th. Northland Securities lifted their target price on Universal Technical Institute from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Truist Financial began coverage on Universal Technical Institute in a research note on Thursday, July 25th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $22.00 price target on shares of Universal Technical Institute in a research note on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Universal Technical Institute presently has a consensus rating of “Buy” and an average price target of $21.60.

Universal Technical Institute Price Performance

The stock has a 50 day moving average of $17.36 and a two-hundred day moving average of $15.84. The stock has a market cap of $890.02 million, a PE ratio of 45.95, a PEG ratio of 1.53 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.02.

Universal Technical Institute (NYSE:UTI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Universal Technical Institute had a return on equity of 12.66% and a net margin of 3.82%. The firm had revenue of $177.46 million for the quarter, compared to analysts’ expectations of $172.33 million. During the same quarter last year, the business posted ($0.05) EPS. Equities analysts anticipate that Universal Technical Institute, Inc. will post 0.71 EPS for the current year.

Insiders Place Their Bets

In other Universal Technical Institute news, CEO Jerome Alan Grant sold 68,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the completion of the sale, the chief executive officer now directly owns 136,443 shares in the company, valued at approximately $2,391,845.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On Universal Technical Institute

Institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC acquired a new stake in Universal Technical Institute during the 2nd quarter worth about $43,000. New York State Common Retirement Fund lifted its holdings in shares of Universal Technical Institute by 28.0% during the 4th quarter. New York State Common Retirement Fund now owns 10,493 shares of the company’s stock valued at $131,000 after buying an additional 2,296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Universal Technical Institute by 95,120.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,522 shares of the company’s stock valued at $150,000 after buying an additional 9,512 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Universal Technical Institute by 54.2% during the 1st quarter. EntryPoint Capital LLC now owns 10,365 shares of the company’s stock valued at $165,000 after buying an additional 3,643 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Universal Technical Institute during the 2nd quarter valued at about $167,000. 75.67% of the stock is currently owned by institutional investors and hedge funds.

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.