Comerica Bank Raises Stake in Universal Technical Institute, Inc. (NYSE:UTI)

Comerica Bank lifted its stake in shares of Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 5,171.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,072 shares of the company's stock after buying an additional 11,843 shares during the period. Comerica Bank's holdings in Universal Technical Institute were worth $310,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of UTI. Covestor Ltd boosted its position in Universal Technical Institute by 24.4% in the fourth quarter. Covestor Ltd now owns 1,977 shares of the company's stock worth $51,000 after purchasing an additional 388 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Universal Technical Institute in the fourth quarter worth $79,000. Aquatic Capital Management LLC purchased a new position in Universal Technical Institute in the fourth quarter worth $118,000. Meeder Asset Management Inc. boosted its position in Universal Technical Institute by 418.6% in the fourth quarter. Meeder Asset Management Inc. now owns 7,851 shares of the company's stock worth $202,000 after purchasing an additional 6,337 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in Universal Technical Institute in the fourth quarter worth $203,000. Hedge funds and other institutional investors own 75.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UTI shares. Truist Financial boosted their price objective on Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research report on Thursday, May 8th. B. Riley started coverage on Universal Technical Institute in a research report on Friday, March 28th. They issued a "buy" rating and a $31.00 price objective on the stock. Northland Securities boosted their price objective on Universal Technical Institute from $30.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Lake Street Capital upped their price target on Universal Technical Institute from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $35.83.

Universal Technical Institute Stock Performance

Shares of NYSE UTI traded down $0.96 during trading on Thursday, reaching $34.36. 1,111,219 shares of the stock traded hands, compared to its average volume of 595,056. Universal Technical Institute, Inc. has a 52-week low of $13.66 and a 52-week high of $36.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50-day moving average of $28.74 and a 200-day moving average of $26.72. The stock has a market capitalization of $1.87 billion, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 1.92 and a beta of 1.57.

Universal Technical Institute (NYSE:UTI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. Universal Technical Institute had a return on equity of 21.25% and a net margin of 7.08%. The firm had revenue of $207.45 million for the quarter, compared to analysts' expectations of $196.63 million. Analysts forecast that Universal Technical Institute, Inc. will post 1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director George W. Brochick sold 6,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $31.84, for a total transaction of $191,040.00. Following the sale, the director now owns 32,516 shares of the company's stock, valued at approximately $1,035,309.44. This represents a 15.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Todd A. Hitchcock sold 27,500 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $33.36, for a total value of $917,400.00. Following the sale, the chief operating officer now directly owns 80,521 shares in the company, valued at $2,686,180.56. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,024 shares of company stock valued at $3,686,890. Corporate insiders own 15.10% of the company's stock.

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.