Universal Technical Institute (NYSE:UTI) Price Target Raised to $40.00

Universal Technical Institute (NYSE:UTI - Free Report) had its price objective raised by Truist Financial from $37.00 to $40.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on UTI. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 target price on shares of Universal Technical Institute in a report on Thursday, May 8th. B. Riley initiated coverage on Universal Technical Institute in a research report on Friday, March 28th. They issued a "buy" rating and a $31.00 price objective on the stock. Barrington Research lifted their target price on shares of Universal Technical Institute from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Northland Securities boosted their target price on shares of Universal Technical Institute from $30.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Lake Street Capital reissued a "buy" rating and set a $38.00 price target (up from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $35.83.

Universal Technical Institute Stock Performance

NYSE UTI traded up $0.77 during trading hours on Thursday, reaching $35.76. The stock had a trading volume of 469,017 shares, compared to its average volume of 597,601. Universal Technical Institute has a 52-week low of $13.66 and a 52-week high of $36.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $1.95 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.57. The stock has a fifty day moving average of $29.05 and a 200 day moving average of $27.06.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. Universal Technical Institute had a net margin of 7.08% and a return on equity of 21.25%. The company had revenue of $207.45 million during the quarter, compared to the consensus estimate of $196.63 million. Sell-side analysts predict that Universal Technical Institute will post 1 earnings per share for the current year.

Insider Buying and Selling at Universal Technical Institute

In related news, EVP Sherrell Smith sold 36,773 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $26.68, for a total value of $981,103.64. Following the transaction, the executive vice president now directly owns 227,358 shares of the company's stock, valued at approximately $6,065,911.44. This trade represents a 13.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George W. Brochick sold 6,000 shares of Universal Technical Institute stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $31.84, for a total value of $191,040.00. Following the completion of the sale, the director now owns 32,516 shares in the company, valued at approximately $1,035,309.44. The trade was a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,024 shares of company stock valued at $3,686,890. Company insiders own 15.10% of the company's stock.

Hedge Funds Weigh In On Universal Technical Institute

A number of hedge funds have recently made changes to their positions in UTI. Covestor Ltd boosted its stake in Universal Technical Institute by 24.4% during the 4th quarter. Covestor Ltd now owns 1,977 shares of the company's stock worth $51,000 after purchasing an additional 388 shares during the last quarter. CWM LLC lifted its stake in Universal Technical Institute by 105.0% in the 1st quarter. CWM LLC now owns 2,167 shares of the company's stock worth $56,000 after purchasing an additional 1,110 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Universal Technical Institute during the 1st quarter worth approximately $57,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Universal Technical Institute in the first quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Universal Technical Institute in the first quarter valued at approximately $68,000. Institutional investors and hedge funds own 75.67% of the company's stock.

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.