Universal Technical Institute (NYSE:UTI) Updates FY 2024 Earnings Guidance

Universal Technical Institute (NYSE:UTI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.680-0.730 for the period, compared to the consensus estimate of 0.700. The company issued revenue guidance of $720.0 million-$730.0 million, compared to the consensus revenue estimate of $715.8 million.

Universal Technical Institute Stock Performance

NYSE UTI traded up $0.06 on Wednesday, reaching $16.69. 445,995 shares of the company’s stock traded hands, compared to its average volume of 611,165. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.09 and a current ratio of 1.09. Universal Technical Institute has a fifty-two week low of $5.63 and a fifty-two week high of $17.09. The stock has a 50 day moving average price of $15.02 and a 200-day moving average price of $13.27. The firm has a market cap of $568.80 million, a price-to-earnings ratio of 64.00, a P/E/G ratio of 1.48 and a beta of 1.22.

Universal Technical Institute (NYSE:UTI) last released its earnings results on Wednesday, February 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.11. Universal Technical Institute had a return on equity of 9.25% and a net margin of 2.41%. The business had revenue of $174.70 million for the quarter, compared to the consensus estimate of $168.19 million. Equities research analysts predict that Universal Technical Institute will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on UTI shares. StockNews.com downgraded Universal Technical Institute from a buy rating to a hold rating in a report on Wednesday, March 27th. Rosenblatt Securities reiterated a buy rating and set a $18.00 price target on shares of Universal Technical Institute in a research report on Monday, April 29th. Barrington Research reaffirmed an outperform rating and issued a $18.00 price target on shares of Universal Technical Institute in a report on Tuesday, April 23rd. TheStreet upgraded Universal Technical Institute from a c+ rating to a b rating in a research report on Thursday, February 1st. Finally, Northland Securities started coverage on Universal Technical Institute in a report on Wednesday, January 10th. They issued an outperform rating and a $16.00 price target for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Universal Technical Institute has an average rating of Moderate Buy and an average price target of $15.40.

Insider Activity at Universal Technical Institute

In related news, Director Loretta Lydia Sanchez sold 8,719 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $15.07, for a total transaction of $131,395.33. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $301,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.60% of the stock is currently owned by company insiders.

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.