Hsbc Holdings PLC Purchases New Stake in Universal Technical Institute Inc $UTI

Key Points

• Hsbc Holdings PLC has acquired a new position in Universal Technical Institute Inc, purchasing 10,096 shares valued at approximately $256,000 during the first quarter.
• Analysts have mixed ratings on Universal Technical Institute, with several firms setting price targets around $36.00, while one analyst downgraded the stock from a "buy" to a "hold".
• Following its latest earnings report, Universal Technical Institute reported $0.19 EPS, surpassing estimates, and generated revenues of $204.30 million, indicating a strong financial performance.

Hsbc Holdings PLC purchased a new position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,096 shares of the company's stock, valued at approximately $256,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new position in Universal Technical Institute during the 1st quarter worth $7,860,000. Northern Trust Corp boosted its position in Universal Technical Institute by 12.2% during the 1st quarter. Northern Trust Corp now owns 419,201 shares of the company's stock worth $10,765,000 after acquiring an additional 45,447 shares during the period. Algert Global LLC boosted its position in Universal Technical Institute by 4.8% during the 1st quarter. Algert Global LLC now owns 163,214 shares of the company's stock worth $4,191,000 after acquiring an additional 7,429 shares during the period. Raymond James Financial Inc. boosted its position in Universal Technical Institute by 435.0% during the 1st quarter. Raymond James Financial Inc. now owns 206,661 shares of the company's stock worth $5,307,000 after acquiring an additional 168,034 shares during the period. Finally, American Century Companies Inc. boosted its position in Universal Technical Institute by 38.1% during the 1st quarter. American Century Companies Inc. now owns 1,343,822 shares of the company's stock worth $34,509,000 after acquiring an additional 370,660 shares during the period. Institutional investors and hedge funds own 75.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on UTI. Barrington Research reiterated an "outperform" rating and set a $36.00 price target on shares of Universal Technical Institute in a research report on Tuesday, July 29th. Lake Street Capital reiterated 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. Rosenblatt Securities restated a "buy" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a report on Thursday, August 7th. Truist Financial upped their price objective on Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered Universal Technical Institute from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $35.83.

Universal Technical Institute Trading Down 1.4%

Shares of NYSE UTI traded down $0.38 during mid-day trading on Friday, hitting $26.92. 445,646 shares of the company traded hands, compared to its average volume of 814,664. Universal Technical Institute Inc has a 1 year low of $15.14 and a 1 year high of $36.32. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.69 and a beta of 1.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $29.58 and a two-hundred day moving average of $29.82.

Universal Technical Institute (NYSE:UTI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. Universal Technical Institute had a return on equity of 22.12% and a net margin of 7.79%.The business had revenue of $204.30 million during the quarter, compared to the consensus estimate of $200.01 million. On average, sell-side analysts anticipate that Universal Technical Institute Inc will post 1 earnings per share 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.