Universal Technical Institute (NYSE:UTI) Shares Down 6.1% - What's Next?

Universal Technical Institute Inc (NYSE:UTI - Get Free Report)'s share price dropped 6.1% during trading on Wednesday . The stock traded as low as $31.29 and last traded at $30.62. Approximately 152,109 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 600,981 shares. The stock had previously closed at $32.62.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on UTI shares. Barrington Research reiterated an "outperform" rating and set a $36.00 price target on shares of Universal Technical Institute in a report on Thursday, June 12th. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 target price on shares of Universal Technical Institute in a research note on Thursday, May 8th. Truist Financial lifted their price target on shares of Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Lake Street Capital restated a "buy" rating and issued a $38.00 price objective (up from $35.00) on shares of Universal Technical Institute in a report on Wednesday, May 21st. Finally, B. Riley initiated coverage on shares of Universal Technical Institute in a research report on Friday, March 28th. They set a "buy" rating and a $31.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $35.83.

Universal Technical Institute Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 2.06 and a beta of 1.58. The firm has a 50-day simple moving average of $33.00 and a two-hundred day simple moving average of $28.92.

Universal Technical Institute (NYSE:UTI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. Universal Technical Institute had a net margin of 7.34% and a return on equity of 21.40%. The business had revenue of $207.45 million during the quarter, compared to analyst estimates of $196.63 million. On average, sell-side analysts anticipate that Universal Technical Institute Inc will post 1 EPS for the current fiscal year.

Insider Buying and Selling at Universal Technical Institute

In other news, Director George W. Brochick sold 6,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $31.84, for a total transaction of $191,040.00. Following the sale, the director owned 32,516 shares of the company's stock, valued at approximately $1,035,309.44. This represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Todd A. Hitchcock sold 27,500 shares of Universal Technical Institute stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $33.36, for a total value of $917,400.00. Following the completion of the transaction, the chief operating officer owned 80,521 shares of the company's stock, valued at approximately $2,686,180.56. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,805 shares of company stock valued at $1,116,995. Insiders own 15.10% of the company's stock.

Hedge Funds Weigh In On Universal Technical Institute

Several hedge funds and other institutional investors have recently made changes to their positions in UTI. Covestor Ltd increased its stake in shares of Universal Technical Institute by 24.4% during the fourth quarter. Covestor Ltd now owns 1,977 shares of the company's stock worth $51,000 after buying an additional 388 shares during the period. CWM LLC grew its holdings in Universal Technical Institute by 105.0% during the 1st quarter. CWM LLC now owns 2,167 shares of the company's stock worth $56,000 after acquiring an additional 1,110 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Universal Technical Institute in the 1st quarter valued at approximately $57,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Universal Technical Institute in the 1st quarter valued at $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Universal Technical Institute during the 1st quarter worth $68,000. Hedge funds and other institutional investors 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.