Universal Technical Institute Inc (NYSE:UTI – Get Free Report)’s share price dropped 8% during mid-day trading on Monday . The stock traded as low as $26.52 and last traded at $26.6460. Approximately 2,040,300 shares were traded during mid-day trading, an increase of 113% from the average daily volume of 959,656 shares. The stock had previously closed at $28.95.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on UTI shares. Truist Financial dropped their price target on Universal Technical Institute from $47.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. B. Riley Financial decreased their target price on Universal Technical Institute from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $45.00 target price on shares of Universal Technical Institute in a report on Thursday. Northland Securities set a $41.00 target price on Universal Technical Institute in a research report on Thursday, May 7th. Finally, Barrington Research upped their target price on Universal Technical Institute from $36.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Universal Technical Institute has a consensus rating of “Moderate Buy” and an average price target of $43.83.
View Our Latest Stock Analysis on UTI
Universal Technical Institute Trading Down 8.0%
Universal Technical Institute (NYSE:UTI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. Universal Technical Institute had a net margin of 3.88% and a return on equity of 10.18%. The firm had revenue of $218.91 million for the quarter, compared to analysts’ expectations of $220.40 million. As a group, sell-side analysts predict that Universal Technical Institute Inc will post 0.61 EPS for the current year.
Insiders Place Their Bets
In related news, Director Coliseum Capital Management, L sold 3,000,000 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $41.40, for a total value of $124,200,000.00. Following the completion of the sale, the director directly owned 971,440 shares of the company’s stock, valued at approximately $40,217,616. This represents a 75.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christine Kline sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $44.42, for a total value of $155,470.00. Following the sale, the chief accounting officer owned 43,006 shares of the company’s stock, valued at $1,910,326.52. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,102,545 shares of company stock worth $128,449,570. 9.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Universal Technical Institute
Large investors have recently made changes to their positions in the business. Great Lakes Advisors LLC purchased a new stake in shares of Universal Technical Institute in the second quarter worth approximately $7,009,000. BlackRock Inc. acquired a new stake in shares of Universal Technical Institute during the second quarter worth approximately $323,080,000. Deutsche Bank AG purchased a new position in Universal Technical Institute during the second quarter valued at approximately $2,218,000. Bank of New York Mellon Corp purchased a new position in Universal Technical Institute during the second quarter valued at approximately $12,135,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Universal Technical Institute in the 2nd quarter valued at approximately $235,000. Institutional investors and hedge funds own 75.67% of the company’s stock.
About Universal Technical Institute
Universal Technical Institute, Inc (NYSE: UTI) is a leading provider of post-secondary education for students pursuing careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, as well as in welding and CNC machining. The company designs and delivers hands-on training through a blend of classroom instruction and experiential lab work, preparing graduates for entry-level positions in the transportation, manufacturing and energy sectors. UTI’s curriculum emphasizes industry-recognized credentials and proprietary coursework developed in collaboration with original equipment manufacturers (OEMs) to ensure alignment with evolving employer needs.
Through a network of campus locations across the United States and select centers in Canada, Universal Technical Institute offers diploma and certificate programs ranging from 36 to 74 weeks in length.
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