Universal Technical Institute (NYSE:UTI) Sets New 52-Week High After Earnings Beat

Universal Technical Institute, Inc. (NYSE:UTI)’s stock price reached a new 52-week high 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 trading hands. The stock had previously closed at $29.62.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on UTI shares. Barrington Research lifted their price objective on shares of Universal Technical Institute from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday. Lake Street Capital increased their price target on shares of Universal Technical Institute from $31.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Rosenblatt Securities restated a “buy” rating and set a $36.00 price objective on shares of Universal Technical Institute in a report on Thursday. Northland Securities upped their target price on Universal Technical Institute from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, B. Riley initiated coverage on Universal Technical Institute in a research note on Friday, March 28th. They issued a “buy” rating and a $31.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Universal Technical Institute currently has an average rating of “Buy” and a consensus target price of $33.00.

Insider Buying and Selling at Universal Technical Institute

In other Universal Technical Institute news, Director George W. Brochick sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $27.59, for a total transaction of $220,720.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sherrell Smith sold 39,446 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 177,912 shares in the company, valued at $4,954,849.20. This trade represents a 18.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,524 shares of company stock valued at $2,578,450 in the last three months. Corporate insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UTI. Vanguard Group Inc. grew its position in Universal Technical Institute by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 2,745,668 shares of the company’s stock worth $70,591,000 after acquiring an additional 44,103 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Universal Technical Institute by 194.0% in the 4th 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. Dumac Inc. acquired a new stake in Universal Technical Institute during the 4th quarter worth approximately $43,236,000. Renaissance Technologies LLC grew its holdings in Universal Technical Institute by 0.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,188,891 shares of the company’s stock worth $30,566,000 after acquiring an additional 6,743 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in Universal Technical Institute by 10.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,131,759 shares of the company’s stock valued at $29,098,000 after acquiring an additional 109,255 shares during the period. 75.67% of the stock is currently owned by institutional investors and hedge funds.

Universal Technical Institute Price Performance

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42. The stock has a market cap of $1.78 billion, a P/E ratio of 33.84, a P/E/G ratio of 1.92 and a beta of 1.57. The company’s 50 day moving average price is $27.24 and its 200-day moving average price is $25.51.

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.