Raymond James Financial Inc. Raises Stock Position in Universal Technical Institute Inc $UTI

Key Points

• Raymond James Financial Inc increased its stake in Universal Technical Institute Inc by 435% during the 1st quarter, owning a total of 206,661 shares valued at $5.3 million.
• Universal Technical Institute reported a quarterly earnings per share (EPS) of $0.19, beating estimates by $0.07, with revenue of $204.3 million surpassing analysts' expectations.
• As of now, 75.67% of Universal Technical Institute's stock is owned by institutional investors and hedge funds, reflecting strong interest from large investors.

Raymond James Financial Inc. grew its position in shares of Universal Technical Institute Inc (NYSE:UTI - Free Report) by 435.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,661 shares of the company's stock after purchasing an additional 168,034 shares during the quarter. Raymond James Financial Inc. owned approximately 0.38% of Universal Technical Institute worth $5,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Universal Technical Institute by 2.9% during the first quarter. Principal Financial Group Inc. now owns 27,399 shares of the company's stock worth $704,000 after acquiring an additional 776 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Universal Technical Institute by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,472 shares of the company's stock valued at $578,000 after acquiring an additional 777 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Universal Technical Institute by 6.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,901 shares of the company's stock worth $331,000 after purchasing an additional 783 shares during the last quarter. CWM LLC boosted its holdings 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 worth $56,000 after purchasing an additional 1,110 shares during the period. Finally, Precision Wealth Strategies LLC raised its holdings in Universal Technical Institute by 5.3% in the 1st quarter. Precision Wealth Strategies LLC now owns 25,874 shares of the company's stock worth $664,000 after purchasing an additional 1,296 shares in the last quarter. Hedge funds and other institutional investors own 75.67% of the company's stock.

Universal Technical Institute Price Performance

Universal Technical Institute stock traded down $0.73 during midday trading on Wednesday, reaching $27.10. 516,604 shares of the stock traded hands, compared to its average volume of 671,837. 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 12 month low of $15.14 and a 12 month high of $36.32. The stock's fifty day moving average is $29.27 and its 200-day moving average is $29.81. The stock has a market cap of $1.47 billion, a P/E ratio of 23.78, a PEG ratio of 1.75 and a beta of 1.65.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. The business had revenue of $204.30 million during the quarter, compared to analyst estimates of $200.01 million. Universal Technical Institute had a net margin of 7.79% and a return on equity of 22.12%. As a group, equities research analysts anticipate that Universal Technical Institute Inc will post 1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UTI. Wall Street Zen lowered shares of Universal Technical Institute from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Barrington Research reiterated an "outperform" rating and issued a $36.00 price objective on shares of Universal Technical Institute in a report on Tuesday, July 29th. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 target price on shares of Universal Technical Institute in a research report on Thursday, August 7th. Lake Street Capital reiterated a "buy" rating and issued a $38.00 price target (up from $35.00) on shares of Universal Technical Institute in a research note on Wednesday, May 21st. Finally, Truist Financial raised their target price on Universal Technical Institute from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, Universal Technical Institute presently has an average rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute 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.