Universal Technical Institute (NYSE:UTI) Stock Price Up 12.2% - Still a Buy?

Key Points

• Universal Technical Institute shares rose 12.2% in Monday midday trading, while trading volume was 89% below its average.
• Analyst sentiment is moderately positive: four analysts rate the stock Buy and three Hold, with a consensus price target of $42.33.
• Several institutional investors increased their holdings in the third quarter; institutional investors and hedge funds own 75.67% of the company’s shares.

Shares of Universal Technical Institute Inc (NYSE:UTI - Get Free Report) were up 12.2% during mid-day trading on Monday. The stock traded as high as $21.81 and last traded at $22.3690. 127,890 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,168,484 shares. The stock had previously closed at $19.93.

Analyst Upgrades and Downgrades

UTI has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Universal Technical Institute from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, October 6th. Northland Securities set a $35.00 price objective on Universal Technical Institute in a research report on Thursday, September 10th. Truist Financial dropped their price objective on Universal Technical Institute from $47.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Texas Capital lowered Universal Technical Institute from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. Finally, B. Riley Financial cut their target price on Universal Technical Institute from $48.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

Universal Technical Institute Trading Up 11.9%

The business has a 50 day moving average of $20.78 and a two-hundred day moving average of $32.07. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 1.81 and a beta of 1.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.30.

Institutional Trading of Universal Technical Institute

Hedge funds have recently bought and sold shares of the business. Aberdeen Group plc grew its stake in shares of Universal Technical Institute by 254.8% in the 3rd quarter. Aberdeen Group plc now owns 926,941 shares of the company's stock worth $17,306,000 after acquiring an additional 665,678 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Universal Technical Institute by 64.6% in the third quarter. Maryland State Retirement & Pension System now owns 12,227 shares of the company's stock valued at $228,000 after purchasing an additional 4,798 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Universal Technical Institute by 2.8% in the third quarter. Illinois Municipal Retirement Fund now owns 25,872 shares of the company's stock valued at $483,000 after purchasing an additional 708 shares during the last quarter. Villere ST Denis J & Co. LLC bought a new position in shares of Universal Technical Institute during the third quarter valued at about $560,000. Finally, Parallel Advisors LLC lifted its position in shares of Universal Technical Institute by 36.1% during the third quarter. Parallel Advisors LLC now owns 9,393 shares of the company's stock valued at $175,000 after purchasing an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 75.67% of the company's stock.

About Universal Technical Institute

Universal Technical Institute, Inc NYSE: UTI is a provider of postsecondary technical education in the United States. Founded in 1965, the company prepares students for careers in transportation, skilled trades, energy, and other technical fields through hands-on instruction and industry-focused training.

Its programs cover automotive, diesel, collision repair, motorcycle, marine, welding, CNC machining, robotics and automation, wind energy, and industrial technology. The company operates under several specialized brands, including Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.