Universal Technical Institute (NYSE:UTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Universal Technical reported wider-than-expected loss in the final quarter of fiscal 2017, primarily because of sluggish enrollments. Revenues of $81.3 million in the fourth quarter fell 6.4% from the prior-year quarter, owing to a decrease of 8.5% in average student enrollment. Average undergraduate full-time enrollments also reported a decline of 6.2% in the quarter. Also, shares of the company have underperformed the industry year to date. That said, operating expenses contracted 10.5% on lower compensation expenses and improved operating efficiencies following the implementation of the Financial Improvement Plan. Also, the company’s operating loss decreased in the quarter, mirroring significant cost reductions and an increase of $0.9 million in operating income from the Long Beach campus.”

A number of other brokerages have also recently issued reports on UTI. ValuEngine cut Universal Technical Institute from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “hold” rating and set a $6.00 price objective on shares of Universal Technical Institute in a research note on Tuesday, October 17th.

Universal Technical Institute (NYSE UTI) traded down $0.18 on Thursday, hitting $2.67. The stock had a trading volume of 40,600 shares, compared to its average volume of 46,613. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.70 and a quick ratio of 1.92. Universal Technical Institute has a 52 week low of $2.59 and a 52 week high of $5.38.

Universal Technical Institute (NYSE:UTI) last released its earnings results on Thursday, November 30th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.11). The firm had revenue of $81.33 million during the quarter. Universal Technical Institute had a negative net margin of 2.51% and a negative return on equity of 5.65%. research analysts expect that Universal Technical Institute will post -0.05 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Universal Technical Institute by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 842,373 shares of the company’s stock valued at $2,923,000 after buying an additional 28,802 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Universal Technical Institute by 52.5% during the third quarter. Alyeska Investment Group L.P. now owns 575,653 shares of the company’s stock valued at $1,998,000 after buying an additional 198,298 shares during the last quarter. Vanguard Group Inc. raised its stake in Universal Technical Institute by 1.0% during the second quarter. Vanguard Group Inc. now owns 402,318 shares of the company’s stock valued at $1,437,000 after buying an additional 3,800 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Universal Technical Institute by 6.2% during the second quarter. Gamco Investors INC. ET AL now owns 293,000 shares of the company’s stock valued at $1,046,000 after buying an additional 17,000 shares during the last quarter. Finally, Quantum Capital Management raised its stake in Universal Technical Institute by 1,477.3% during the third quarter. Quantum Capital Management now owns 173,177 shares of the company’s stock valued at $601,000 after buying an additional 162,198 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

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About Universal Technical Institute

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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