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

Shares of Universal Technical Institute, Inc. (NYSE:UTI) gapped up prior to trading 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.

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 net margin of 5.34% and a return on equity of 16.41%.

Analyst Ratings Changes

Several brokerages recently issued reports on UTI. Truist Financial boosted their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barrington Research upped their price objective on Universal Technical Institute from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note 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 report on Thursday. Northland Securities increased their price objective on shares of Universal Technical Institute from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, B. Riley increased their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $29.67.

Insider Transactions at Universal Technical Institute

In other news, Director Kenneth R. Trammell sold 30,000 shares of the company’s 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 transaction, the director now owns 128,205 shares in the company, valued at $3,323,073.60. This represents a 18.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UTI. Covestor Ltd grew its holdings 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 last quarter. Quarry LP lifted 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 acquiring an additional 3,056 shares during the period. International Assets Investment Management LLC grew its stake in Universal Technical Institute by 1,526.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,065 shares of the company’s stock valued at $66,000 after purchasing an additional 3,815 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Universal Technical Institute during the 4th quarter worth approximately $79,000. Finally, Morse Asset Management Inc purchased a new stake in Universal Technical Institute during the third quarter worth $152,000. Institutional investors and hedge funds own 75.67% of the company’s stock.

Universal Technical Institute Stock Up 2.7 %

The business’s fifty day simple moving average is $26.06 and its two-hundred day simple moving average is $20.61. The company has a market cap of $1.59 billion, a PE ratio of 39.26, a PEG ratio of 1.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.08.

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.