Universal Technical Institute (NYSE:UTI) Shares Gap Down Following Analyst Downgrade

Universal Technical Institute Inc (NYSE:UTIGet Free Report) gapped down before the market opened on Monday after Texas Capital downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $21.47, but opened at $20.34. Universal Technical Institute shares last traded at $19.9850, with a volume of 208,140 shares changing hands.

Other equities research analysts have also issued research reports about the company. Truist Financial cut their price target on Universal Technical Institute from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings upgraded Universal Technical Institute from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. B. Riley Financial dropped their price objective on Universal Technical Institute from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Northland Securities set a $35.00 target price on Universal Technical Institute in a research report on Thursday, September 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 target price on shares of Universal Technical Institute in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

Get Our Latest Stock Report on UTI

Insider Buying and Selling

In other news, CEO Jerome Grant sold 94,500 shares of Universal Technical Institute stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $41.40, for a total value of $3,912,300.00. Following the completion of the transaction, the chief executive officer owned 335,715 shares in the company, valued at approximately $13,898,601. The trade was a 21.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.80% of the company’s stock.

Institutional Investors Weigh In On Universal Technical Institute

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Universal Technical Institute during the second quarter worth approximately $323,080,000. Wasatch Advisors LP boosted its holdings in shares of Universal Technical Institute by 12.8% in the first quarter. Wasatch Advisors LP now owns 1,978,776 shares of the company’s stock valued at $71,434,000 after purchasing an additional 223,893 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Universal Technical Institute by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,296,989 shares of the company’s stock valued at $46,826,000 after purchasing an additional 9,153 shares during the period. Conestoga Capital Advisors LLC grew its stake in Universal Technical Institute by 1,366.0% in the first quarter. Conestoga Capital Advisors LLC now owns 1,292,125 shares of the company’s stock worth $46,646,000 after purchasing an additional 1,203,985 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. grew its stake in Universal Technical Institute by 0.7% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,169,843 shares of the company’s stock worth $30,568,000 after purchasing an additional 7,566 shares in the last quarter. 75.67% of the stock is owned by institutional investors.

Universal Technical Institute Price Performance

The firm has a fifty day simple moving average of $28.15 and a 200 day simple moving average of $35.29. The company has a market capitalization of $1.12 billion, a PE ratio of 32.90, a P/E/G ratio of 2.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

Universal Technical Institute (NYSE:UTIGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 EPS for the quarter, beating 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 business had revenue of $218.91 million during the quarter, compared to analyst estimates of $220.40 million. Equities analysts anticipate that Universal Technical Institute Inc will post 0.61 EPS for the current year.

About Universal Technical Institute

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Universal Technical Institute, Inc (NYSE: UTI) is a provider of postsecondary education and training for careers in the transportation, skilled trades and energy industries. The company offers programs in automotive, diesel, collision repair, motorcycle, marine, welding, CNC machining, wind energy and other technical fields, combining classroom instruction with hands-on laboratory experience.

Universal Technical Institute operates through a portfolio of specialized school brands, including Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute and MIAT College of Technology.

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