American Century Companies Inc. Buys 370,660 Shares of Universal Technical Institute Inc $UTI

Key Points

• American Century Companies Inc. increased its holdings in Universal Technical Institute by 38.1%, acquiring an additional 370,660 shares, bringing its total ownership to 1,343,822 shares valued at approximately $34.5 million.
• Several other institutional investors also modified their stakes in Universal Technical Institute, with 75.67% of the stock now owned by institutional investors and hedge funds.
• Analysts have a consensus rating of "Buy" for Universal Technical Institute, with target prices ranging from $36.00 to $40.00, reflecting positive outlook amidst recent stock performance.

American Century Companies Inc. increased its stake in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) by 38.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,343,822 shares of the company's stock after buying an additional 370,660 shares during the period. American Century Companies Inc. owned about 2.47% of Universal Technical Institute worth $34,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in UTI. Dumac Inc. purchased a new stake in Universal Technical Institute during the fourth quarter worth about $43,236,000. Lord Abbett & CO. LLC lifted its holdings in shares of Universal Technical Institute by 194.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,847,423 shares of the company's stock valued at $47,497,000 after purchasing an additional 1,219,052 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Universal Technical Institute by 11.2% in the first quarter. Vanguard Group Inc. now owns 3,052,652 shares of the company's stock valued at $78,392,000 after purchasing an additional 306,984 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Universal Technical Institute in the fourth quarter valued at about $7,638,000. Finally, Nuveen LLC purchased a new stake in shares of Universal Technical Institute in the first quarter valued at about $6,761,000. Hedge funds and other institutional investors own 75.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Universal Technical Institute from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Barrington Research reissued an "outperform" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research report on Tuesday, July 29th. Truist Financial upped their price target on shares of Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Lake Street Capital reaffirmed a "buy" rating and set a $38.00 price target (up previously from $35.00) on shares of Universal Technical Institute in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat, Universal Technical Institute presently has an average rating of "Buy" and an average price target of $35.83.

Universal Technical Institute Price Performance

Shares of UTI traded up $0.55 during mid-day trading on Wednesday, hitting $27.08. The company's stock had a trading volume of 565,096 shares, compared to its average volume of 976,195. The firm has a 50-day moving average price of $30.53 and a 200 day moving average price of $29.87. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.67 and a beta of 1.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 1.00. Universal Technical Institute Inc has a fifty-two week low of $15.14 and a fifty-two week high of $36.32.

Universal Technical Institute (NYSE:UTI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.07. The company had revenue of $204.30 million for the quarter, compared to analysts' expectations of $200.01 million. Universal Technical Institute had a net margin of 7.79% and a return on equity of 22.12%. On average, research analysts predict that Universal Technical Institute Inc will post 1 EPS for the current fiscal year.

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.