Lord Abbett & CO. LLC Boosts Stock Position in Universal Technical Institute Inc $UTI

Key Points

• Lord Abbett & CO. LLC increased its holdings in Universal Technical Institute Inc by 58.3% in the first quarter, owning 2,924,499 shares worth approximately $75.10 million.
• 75.67% of Universal Technical Institute's stock is currently owned by institutional investors and hedge funds, indicating significant interest from larger financial entities.
• The company reported earnings of $0.19 EPS for the quarter, exceeding analysts' expectations and generating revenue of $204.30 million.

Lord Abbett & CO. LLC increased its position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,924,499 shares of the company's stock after buying an additional 1,077,076 shares during the period. Lord Abbett & CO. LLC owned about 5.38% of Universal Technical Institute worth $75,101,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in UTI. CWM LLC increased its stake in shares of Universal Technical Institute by 105.0% during the first quarter. CWM LLC now owns 2,167 shares of the company's stock valued at $56,000 after buying an additional 1,110 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in Universal Technical Institute during the first quarter valued at about $61,000. Caitong International Asset Management Co. Ltd bought a new stake in Universal Technical Institute during the first quarter valued at about $68,000. USA Financial Formulas bought a new stake in Universal Technical Institute during the first quarter valued at about $84,000. Finally, Lazard Asset Management LLC bought a new stake in Universal Technical Institute during the fourth quarter valued at about $101,000. Hedge funds and other institutional investors own 75.67% of the company's stock.

Analyst Upgrades and Downgrades

UTI has been the topic of a number of recent research reports. Truist Financial raised their price objective on Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Lake Street Capital reaffirmed a "buy" rating and set a $38.00 price objective (up previously from $35.00) on shares of Universal Technical Institute in a research report on Wednesday, May 21st. 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. Wall Street Zen downgraded Universal Technical Institute from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $36.00 target price on shares of Universal Technical Institute in a report on Tuesday, July 29th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Universal Technical Institute currently has a consensus rating of "Buy" and an average target price of $35.83.

Universal Technical Institute Stock Performance

Shares of Universal Technical Institute stock traded up $0.50 on Monday, reaching $26.53. 1,163,317 shares of the stock were exchanged, compared to its average volume of 775,165. 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 Inc has a twelve month low of $15.14 and a twelve month high of $36.32. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.64 and a beta of 1.58. The business has a 50 day moving average price of $31.58 and a two-hundred day moving average price of $30.00.

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