Granahan Investment Management LLC Lowers Stake in Universal Technical Institute Inc $UTI

Key Points

• Granahan Investment Management LLC has decreased its holdings in Universal Technical Institute by 41.1%, reducing their shares to 93,566 after selling 65,293 shares in the first quarter.
• Universal Technical Institute's latest earnings report showed an EPS of $0.19, surpassing analyst expectations of $0.12, with a revenue of $204.3 million.
• Several brokerages have recently adjusted their price targets for Universal Technical Institute, with Truist Financial increasing its target from $37.00 to $40.00 while maintaining a "buy" rating.

Granahan Investment Management LLC cut its holdings in Universal Technical Institute Inc (NYSE:UTI - Free Report) by 41.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,566 shares of the company's stock after selling 65,293 shares during the quarter. Granahan Investment Management LLC owned 0.17% of Universal Technical Institute worth $2,403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of UTI. CWM LLC grew its holdings in shares of Universal Technical Institute by 105.0% in the first quarter. CWM LLC now owns 2,167 shares of the company's stock valued at $56,000 after purchasing an additional 1,110 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Universal Technical Institute in the first quarter valued at $61,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Universal Technical Institute in the first quarter valued at $68,000. USA Financial Formulas purchased a new stake in Universal Technical Institute during the 1st quarter valued at $84,000. Finally, Lazard Asset Management LLC purchased a new stake in Universal Technical Institute during the 4th quarter valued at $101,000. 75.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Universal Technical Institute Trading Down 2.6%

UTI traded down $0.73 during trading on Wednesday, hitting $27.10. 405,481 shares of the stock were exchanged, compared to its average volume of 758,936. The firm has a 50 day simple moving average of $29.36 and a 200 day simple moving average of $29.82. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.73 and a beta of 1.65. Universal Technical Institute Inc has a 1 year low of $15.14 and a 1 year high of $36.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.00 and a current ratio of 1.00.

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, topping the consensus estimate of $0.12 by $0.07. The company had revenue of $204.30 million for the quarter, compared to the consensus estimate of $200.01 million. Universal Technical Institute had a return on equity of 22.12% and a net margin of 7.79%. As a group, equities analysts expect that Universal Technical Institute Inc will post 1 EPS for the current year.

Universal Technical Institute Company 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.