Invesco Ltd. Sells 36,491 Shares of Universal Technical Institute Inc $UTI

Key Points

• Invesco Ltd. reduced its stake in Universal Technical Institute by 10.3%, now holding approximately 318,182 shares valued at $8.17 million.
• Recent analyst ratings vary, with some firms like Truist Financial raising their target to $40.00 while others, like Wall Street Zen, downgraded the stock to a "hold" rating.
• Universal Technical Institute reported earnings of $0.19 per share, exceeding analyst expectations, with revenue of $204.3 million for the quarter.

Invesco Ltd. trimmed its position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,182 shares of the company's stock after selling 36,491 shares during the period. Invesco Ltd. owned 0.59% of Universal Technical Institute worth $8,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UTI. Wells Fargo & Company MN boosted its position in Universal Technical Institute by 15.6% during the fourth quarter. Wells Fargo & Company MN now owns 48,154 shares of the company's stock worth $1,238,000 after purchasing an additional 6,490 shares during the period. Envestnet Asset Management Inc. bought a new position in Universal Technical Institute during the fourth quarter worth $203,000. Raymond James Financial Inc. bought a new position in Universal Technical Institute during the fourth quarter worth $993,000. MetLife Investment Management LLC boosted its position in Universal Technical Institute by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 23,962 shares of the company's stock worth $616,000 after purchasing an additional 1,294 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Universal Technical Institute by 21.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,994 shares of the company's stock worth $900,000 after purchasing an additional 6,163 shares during the period. 75.67% of the stock is owned by institutional investors.

Universal Technical Institute Stock Performance

Shares of Universal Technical Institute stock traded down $0.27 during trading on Friday, reaching $26.62. The company's stock had a trading volume of 551,922 shares, compared to its average volume of 976,889. The business's 50-day moving average price is $30.27 and its 200-day moving average price is $29.88. The firm has a market cap of $1.45 billion, a PE ratio of 23.35, a P/E/G ratio of 1.67 and a beta of 1.65. Universal Technical Institute Inc has a 52 week low of $15.14 and a 52 week high of $36.32. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research report on Thursday, August 7th. Lake Street Capital reaffirmed a "buy" rating and set a $38.00 price objective (up from $35.00) on shares of Universal Technical Institute in a research report on Wednesday, May 21st. Wall Street Zen cut shares of Universal Technical Institute from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Barrington Research reissued an "outperform" rating and issued a $36.00 target price on shares of Universal Technical Institute in a research report on Tuesday, July 29th. Finally, Truist Financial boosted their target price 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. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $35.83.

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.