Universal Technical Institute (NYSE:UTI) Shares Gap Up After Earnings Beat

Universal Technical Institute, Inc. (NYSE:UTI) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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 changing hands.

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%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Lake Street Capital increased their price objective on Universal Technical Institute from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday. Barrington Research increased their price target on Universal Technical Institute from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday. Rosenblatt Securities lifted their price objective on shares of Universal Technical Institute from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial increased their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Northland Securities raised their price target 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. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $31.17.

Insider Activity

In other news, Director Kenneth R. Trammell sold 30,000 shares of the firm’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 owns 128,205 shares in the company, valued at $3,323,073.60. This trade represents a 18.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Universal Technical Institute

Several institutional investors have recently bought and sold shares of UTI. HighTower Advisors LLC purchased a new position in shares of Universal Technical Institute during the 4th quarter valued at $845,000. Independent Advisor Alliance increased its holdings in Universal Technical Institute by 4.4% in the 4th quarter. Independent Advisor Alliance now owns 12,157 shares of the company’s stock worth $313,000 after acquiring an additional 507 shares during the last quarter. AlphaQuest LLC raised its stake in Universal Technical Institute by 822,000.0% in the 4th quarter. AlphaQuest LLC now owns 8,221 shares of the company’s stock valued at $211,000 after acquiring an additional 8,220 shares during the period. Raymond James Financial Inc. purchased a new stake in Universal Technical Institute during the fourth quarter valued at about $993,000. Finally, Verdence Capital Advisors LLC purchased a new stake in Universal Technical Institute during the fourth quarter valued at about $212,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Price Performance

The firm’s 50 day moving average price is $26.20 and its two-hundred day moving average price is $20.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $1.61 billion, a PE ratio of 40.06, a P/E/G ratio of 1.90 and a beta of 1.45.

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.