Bank of America Corp DE Increases Stock Position in Universal Technical Institute, Inc. (NYSE:UTI)

Bank of America Corp DE boosted its holdings in Universal Technical Institute, Inc. (NYSE:UTI - Free Report) by 33.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,138 shares of the company's stock after acquiring an additional 9,806 shares during the quarter. Bank of America Corp DE owned 0.07% of Universal Technical Institute worth $1,006,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its stake in shares of Universal Technical Institute by 15.3% in the 4th quarter. Ameriprise Financial Inc. now owns 90,709 shares of the company's stock worth $2,332,000 after acquiring an additional 12,017 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Universal Technical Institute by 37.4% in the 4th quarter. Rhumbline Advisers now owns 71,407 shares of the company's stock worth $1,836,000 after acquiring an additional 19,453 shares in the last quarter. Pier Capital LLC grew its stake in shares of Universal Technical Institute by 2.4% in the 4th quarter. Pier Capital LLC now owns 566,663 shares of the company's stock worth $14,569,000 after acquiring an additional 13,281 shares in the last quarter. Northern Trust Corp grew its stake in shares of Universal Technical Institute by 8.6% in the 4th quarter. Northern Trust Corp now owns 373,754 shares of the company's stock worth $9,609,000 after acquiring an additional 29,755 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Universal Technical Institute by 50.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 617,430 shares of the company's stock worth $15,874,000 after acquiring an additional 205,716 shares in the last quarter. Institutional investors own 75.67% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barrington Research upped their target price on shares of Universal Technical Institute from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Lake Street Capital reiterated a "buy" rating and issued a $38.00 target price (up previously from $35.00) on shares of Universal Technical Institute in a research note on Wednesday, May 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $36.00 target price on shares of Universal Technical Institute in a research note on Thursday, May 8th. Truist Financial increased their price target on shares of Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, B. Riley began coverage on shares of Universal Technical Institute in a research report on Friday, March 28th. They set a "buy" rating and a $31.00 price target for the company. Six equities research 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 company currently has a consensus rating of "Buy" and an average price target of $35.83.

Insider Activity at Universal Technical Institute

In other Universal Technical Institute news, EVP Sherrell Smith sold 36,773 shares of Universal Technical Institute stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.68, for a total transaction of $981,103.64. Following the transaction, the executive vice president now directly owns 227,358 shares of the company's stock, valued at approximately $6,065,911.44. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George W. Brochick sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $31.84, for a total transaction of $191,040.00. Following the completion of the transaction, the director now owns 32,516 shares in the company, valued at $1,035,309.44. This represents a 15.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 120,024 shares of company stock valued at $3,466,170 over the last three months. 15.10% of the stock is owned by corporate insiders.

Universal Technical Institute Stock Performance

NYSE:UTI traded up $0.10 on Wednesday, reaching $32.64. 520,390 shares of the company's stock were exchanged, compared to its average volume of 597,022. 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 firm has a market cap of $1.78 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 1.92 and a beta of 1.61. Universal Technical Institute, Inc. has a 52 week low of $13.66 and a 52 week high of $36.32. The stock has a fifty day simple moving average of $31.08 and a 200-day simple moving average of $28.13.

Universal Technical Institute (NYSE:UTI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $207.45 million for the quarter, compared to the consensus estimate of $196.63 million. As a group, sell-side analysts predict that Universal Technical Institute, Inc. will post 1 earnings per share for the current year.

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.