Universal Technical Institute (NYSE:UTI) Reaches New 1-Year High on Strong Earnings

Shares of Universal Technical Institute, Inc. (NYSE:UTI) reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $33.18 and last traded at $32.99, with a volume of 306979 shares traded. The stock had previously closed at $29.62.

The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.07. The company had revenue of $207.45 million during the quarter, compared to analyst estimates of $196.63 million. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%.

Wall Street Analyst Weigh In

UTI has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $36.00 price target on shares of Universal Technical Institute in a report on Thursday. B. Riley started coverage on Universal Technical Institute in a report on Friday, March 28th. They issued a “buy” rating and a $31.00 price target on the stock. Barrington Research increased their price objective on shares of Universal Technical Institute from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday. Northland Securities boosted their target price on shares of Universal Technical Institute from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Lake Street Capital raised their target price on shares of Universal Technical Institute from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $33.00.

Insider Activity

In other Universal Technical Institute news, EVP Sherrell Smith sold 39,446 shares of Universal Technical Institute stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $27.85, for a total value of $1,098,571.10. Following the completion of the transaction, the executive vice president now directly owns 177,912 shares of the company’s stock, valued at $4,954,849.20. This trade represents a 18.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George W. Brochick sold 8,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $27.59, for a total transaction of $220,720.00. Following the sale, the director now owns 34,917 shares in the company, valued at $963,360.03. This represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,524 shares of company stock worth $2,578,450. 15.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Technical Institute

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dumac Inc. bought a new stake in shares of Universal Technical Institute in the 4th quarter worth about $43,236,000. Lord Abbett & CO. LLC grew its stake in shares of Universal Technical Institute by 194.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,847,423 shares of the company’s stock valued at $47,497,000 after buying an additional 1,219,052 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Universal Technical Institute by 1,377.1% in the fourth quarter. Victory Capital Management Inc. now owns 518,256 shares of the company’s stock worth $13,324,000 after buying an additional 483,170 shares during the period. Vanguard Group Inc. lifted its stake in shares of Universal Technical Institute by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 3,052,652 shares of the company’s stock worth $78,392,000 after acquiring an additional 306,984 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Universal Technical Institute during the 4th quarter valued at $7,638,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Stock Up 4.6 %

The company has a market cap of $1.86 billion, a P/E ratio of 35.34, a P/E/G ratio of 1.92 and a beta of 1.57. The company has a 50-day simple moving average of $27.38 and a 200 day simple moving average of $25.64. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42.

Universal Technical Institute Company Profile

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.