Jennison Associates LLC Makes New Investment in Universal Technical Institute Inc $UTI

Jennison Associates LLC purchased a new position in Universal Technical Institute Inc (NYSE:UTI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,827 shares of the company’s stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in UTI. Congress Asset Management Co. purchased a new stake in shares of Universal Technical Institute in the 2nd quarter worth approximately $63,265,000. Lord Abbett & CO. LLC grew its stake in shares of Universal Technical Institute by 58.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,924,499 shares of the company’s stock worth $75,101,000 after buying an additional 1,077,076 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Universal Technical Institute in the 1st quarter worth approximately $20,631,000. American Century Companies Inc. grew its stake in shares of Universal Technical Institute by 38.1% in the 1st quarter. American Century Companies Inc. now owns 1,343,822 shares of the company’s stock worth $34,509,000 after buying an additional 370,660 shares during the last quarter. Finally, Westwind Capital purchased a new stake in shares of Universal Technical Institute in the 2nd quarter worth approximately $10,424,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on UTI shares. Zacks Research downgraded Universal Technical Institute from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Barrington Research restated an “outperform” rating and issued a $36.00 price target on shares of Universal Technical Institute in a research note on Monday, September 29th. Weiss Ratings restated a “buy (b)” rating on shares of Universal Technical Institute in a research note on Wednesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research report on Thursday, August 7th. Finally, Wall Street Zen cut Universal Technical Institute from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.83.

Universal Technical Institute Stock Performance

UTI stock opened at $29.75 on Monday. The stock has a market capitalization of $1.62 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.27 and a beta of 1.58. Universal Technical Institute Inc has a 12-month low of $16.31 and a 12-month high of $36.32. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $29.89 and its 200 day simple moving average is $30.93.

Universal Technical Institute (NYSE:UTI) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. The business had revenue of $204.30 million for the quarter, compared to analysts’ expectations of $200.01 million. Universal Technical Institute had a return on equity of 22.12% and a net margin of 7.79%. As a group, research analysts forecast that Universal Technical Institute Inc will post 1 earnings per share for the current fiscal year.

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.