Universal Technical Institute (NYSE:UTI) Shares Down 6.9% – Here’s What Happened

Shares of Universal Technical Institute Inc (NYSE:UTI) fell 6.9% during mid-day trading on Wednesday . The company traded as low as $43.40 and last traded at $43.4360. 397,908 shares were traded during trading, a decline of 55% from the average session volume of 890,615 shares. The stock had previously closed at $46.65.

Analyst Ratings Changes

A number of research firms have recently commented on UTI. Northland Securities set a $41.00 price objective on Universal Technical Institute in a research note on Thursday, May 7th. Rosenblatt Securities increased their target price on Universal Technical Institute from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barrington Research raised 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. Truist Financial upped their price target on Universal Technical Institute from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Griffin Securities set a $49.00 price objective on Universal Technical Institute in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Universal Technical Institute currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

Universal Technical Institute Price Performance

The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 54.89, a P/E/G ratio of 4.21 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s 50 day simple moving average is $41.42 and its two-hundred day simple moving average is $35.61.

Universal Technical Institute (NYSE:UTI) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $221.40 million during the quarter, compared to analysts’ expectations of $221.61 million. Universal Technical Institute had a net margin of 4.91% and a return on equity of 13.02%. On average, analysts forecast that Universal Technical Institute Inc will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Linda J. Srere sold 15,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $36.59, for a total value of $548,850.00. Following the completion of the transaction, the director owned 127,564 shares of the company’s stock, valued at $4,667,566.76. This represents a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $155,470.00. Following the transaction, the chief accounting officer owned 43,006 shares of the company’s stock, valued at approximately $1,910,326.52. This represents a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,117,545 shares of company stock valued at $128,998,420 over the last 90 days. Company insiders own 9.80% of the company’s stock.

Hedge Funds Weigh In On Universal Technical Institute

Several hedge funds and other institutional investors have recently modified their holdings of UTI. Newbridge Financial Services Group Inc. acquired a new stake in Universal Technical Institute in the 2nd quarter valued at $27,000. PNC Financial Services Group Inc. raised its stake in Universal Technical Institute by 543.5% during the first quarter. PNC Financial Services Group Inc. now owns 888 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares in the last quarter. Clearstead Advisors LLC raised its stake in Universal Technical Institute by 187.5% during the fourth quarter. Clearstead Advisors LLC now owns 1,446 shares of the company’s stock worth $38,000 after acquiring an additional 943 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Universal Technical Institute during the first quarter valued at $57,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Universal Technical Institute by 4,500.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 5,428 shares of the company’s stock valued at $142,000 after acquiring an additional 5,310 shares during the period. Institutional investors 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.