Northern Trust Corp Has $10.77 Million Holdings in Universal Technical Institute Inc $UTI

Key Points

• Northern Trust Corp increased its holdings in Universal Technical Institute Inc by 12.2%, now owning 419,201 shares valued at approximately $10.8 million.
• Universal Technical Institute has received multiple analysts ratings, with an average rating of "Buy" and a price target average of $35.83.
• The company's latest earnings report showed a net margin of 7.79% and revenue of $204.30 million, surpassing analysts' expectations of $200.01 million.

Northern Trust Corp grew its position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) by 12.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 419,201 shares of the company's stock after purchasing an additional 45,447 shares during the quarter. Northern Trust Corp owned approximately 0.77% of Universal Technical Institute worth $10,765,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Algert Global LLC boosted its stake in shares of Universal Technical Institute by 4.8% during the first quarter. Algert Global LLC now owns 163,214 shares of the company's stock valued at $4,191,000 after purchasing an additional 7,429 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Universal Technical Institute by 435.0% during the first quarter. Raymond James Financial Inc. now owns 206,661 shares of the company's stock valued at $5,307,000 after purchasing an additional 168,034 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Universal Technical Institute by 38.1% during the first quarter. American Century Companies Inc. now owns 1,343,822 shares of the company's stock valued at $34,509,000 after purchasing an additional 370,660 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Universal Technical Institute by 58.3% during the first quarter. Lord Abbett & CO. LLC now owns 2,924,499 shares of the company's stock valued at $75,101,000 after purchasing an additional 1,077,076 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Universal Technical Institute during the first quarter valued at about $68,000. 75.67% of the stock is owned by institutional investors and hedge funds.

Universal Technical Institute Trading Down 2.6%

Shares of Universal Technical Institute stock traded down $0.73 during midday trading on Wednesday, reaching $27.10. The company had a trading volume of 516,604 shares, compared to its average volume of 671,837. The stock has a fifty day moving average price of $29.27 and a 200 day moving average price of $29.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $1.47 billion, a PE ratio of 23.78, a P/E/G ratio of 1.75 and a beta of 1.65. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.19 earnings per share (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 firm had revenue of $204.30 million for the quarter, compared to analyst estimates of $200.01 million. On average, equities analysts anticipate that Universal Technical Institute Inc will post 1 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Rosenblatt Securities reissued a "buy" rating and set a $36.00 price target on shares of Universal Technical Institute in a research note on Thursday, August 7th. Wall Street Zen lowered Universal Technical Institute from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Truist Financial lifted their price target on Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Lake Street Capital reaffirmed a "buy" rating and issued a $38.00 price objective (up from $35.00) on shares of Universal Technical Institute in a research note on Wednesday, May 21st. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a research note on Tuesday, July 29th. One equities research 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 has an average rating of "Buy" and an average 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.