Zacks Investment Research cut shares of Universal Technical Institute Inc (NYSE:UTI) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Shares of Universal Technical underperformed its industry year to date. Also, loss estimates for the current year has widened in the last 60 days. The company’s enrollments have been sluggish for several quarters now, due to regulatory challenges, and changes and competition in the higher education industry. Universal Technical expects revenues, new student starts, and average student population to be down in fiscal 2017. Meanwhile, Universal Technical continues to expect its Financial Improvement Plan to deliver at the high end of the earlier guided range of annualized cost savings in fiscal 2017.”

Separately, ValuEngine upgraded Universal Technical Institute from a sell rating to a hold rating in a research note on Tuesday, June 27th.

Shares of Universal Technical Institute (NYSE UTI) traded down 1.14% during mid-day trading on Tuesday, reaching $3.47. The company had a trading volume of 2,527 shares. The firm has a 50 day moving average of $3.43 and a 200-day moving average of $3.55. Universal Technical Institute has a one year low of $1.42 and a one year high of $5.38. The stock’s market capitalization is $85.91 million.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in Universal Technical Institute by 5.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,152,600 shares of the company’s stock worth $3,976,000 after purchasing an additional 61,600 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Universal Technical Institute by 1.2% in the first quarter. Wells Fargo & Company MN now owns 149,375 shares of the company’s stock worth $516,000 after purchasing an additional 1,741 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Universal Technical Institute in the second quarter worth about $107,000. Gamco Investors INC. ET AL increased its holdings in shares of Universal Technical Institute by 6.2% in the second quarter. Gamco Investors INC. ET AL now owns 293,000 shares of the company’s stock worth $1,046,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Universal Technical Institute by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 42,122 shares of the company’s stock worth $145,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 58.80% of the company’s stock.

Universal Technical Institute Company Profile

Universal Technical Institute, Inc is a provider of postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians as measured by total average undergraduate full-time enrollment and graduates. The Company offers undergraduate degree or diploma programs at approximately 12 campuses across the United States under the banner of various brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (collectively, MMI) and NASCAR Technical Institute (NASCAR Tech).

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