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

Shares of Universal Technical Institute Inc (NYSE:UTI) 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 traded.

A number of other brokerages have also issued reports on UTI. Truist Financial cut their target price on Universal Technical Institute from $47.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Northland Securities set a $35.00 price target on shares of Universal Technical Institute in a research report on Thursday, September 10th. B. Riley Financial lowered their price objective on shares of 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. Rosenblatt Securities restated a “buy” rating and issued a $45.00 price objective on shares of Universal Technical Institute in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Universal Technical Institute from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.83.

Insider Activity

In other news, CEO Jerome Grant sold 94,500 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $41.40, for a total value of $3,912,300.00. Following the completion of the sale, the chief executive officer owned 335,715 shares in the company, valued at approximately $13,898,601. This trade represents a 21.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Universal Technical Institute

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in Universal Technical Institute in the 2nd quarter valued at about $12,135,000. Baird Financial Group Inc. bought a new stake in shares of Universal Technical Institute during the 2nd quarter worth about $13,471,000. Needham Investment Management LLC lifted its stake in shares of Universal Technical Institute by 46.8% in the 4th quarter. Needham Investment Management LLC now owns 807,500 shares of the company’s stock worth $21,100,000 after acquiring an additional 257,500 shares during the period. MYDA Advisors LLC bought a new position in shares of Universal Technical Institute in the fourth quarter valued at approximately $1,322,000. Finally, Manatuck Hill Partners LLC increased its stake in shares of Universal Technical Institute by 342.8% during the fourth quarter. Manatuck Hill Partners LLC now owns 264,800 shares of the company’s stock valued at $6,919,000 after acquiring an additional 205,000 shares during the period. 75.67% of the stock is owned by institutional investors and hedge funds.

Universal Technical Institute Price Performance

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $28.15 and a two-hundred day simple moving average of $35.29. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.27 and a beta of 1.17.

Universal Technical Institute (NYSE:UTI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $218.91 million for the quarter, compared to the consensus estimate of $220.40 million. Universal Technical Institute had a return on equity of 10.18% and a net margin of 3.88%. As a group, research analysts predict that Universal Technical Institute Inc will post 0.61 earnings per share for the current fiscal year.

About Universal Technical Institute

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.