Universal Technical Institute (NYSE:UTI) Shares Down 6.1% - Here's Why

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Rosenblatt Securities restated a "buy" rating and issued a $36.00 target price on shares of Universal Technical Institute in a report on Thursday, May 8th. B. Riley began coverage on 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. Barrington Research reissued an "outperform" rating and set a $36.00 price objective on shares of Universal Technical Institute in a research report on Thursday, June 12th. Lake Street Capital reissued a "buy" rating and set a $38.00 price objective (up previously from $35.00) on shares of Universal Technical Institute in a research report on Wednesday, May 21st. Finally, Truist Financial lifted their price objective on Universal Technical Institute from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $35.83.

Universal Technical Institute Stock Up 2.2%

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $1.76 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 2.04 and a beta of 1.58. The firm has a 50 day moving average of $33.17 and a 200-day moving average of $29.00.

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

Insider Activity

In other news, Director George W. Brochick sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $31.84, for a total value of $191,040.00. Following the sale, the director directly owned 32,516 shares in the company, valued at approximately $1,035,309.44. This represents a 15.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Todd A. Hitchcock sold 27,500 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer owned 80,521 shares in the company, valued at approximately $2,686,180.56. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,805 shares of company stock worth $1,116,995 over the last 90 days. Corporate insiders own 15.10% of the company's stock.

Institutional Investors Weigh In On Universal Technical Institute

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Universal Technical Institute by 2,671.7% in the 1st quarter. GAMMA Investing LLC now owns 8,731 shares of the company's stock valued at $224,000 after purchasing an additional 8,416 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Universal Technical Institute by 15.3% in the 4th quarter. Ameriprise Financial Inc. now owns 90,709 shares of the company's stock worth $2,332,000 after acquiring an additional 12,017 shares in the last quarter. Pullen Investment Management LLC boosted its holdings in shares of Universal Technical Institute by 46.4% in the 4th quarter. Pullen Investment Management LLC now owns 95,410 shares of the company's stock worth $2,453,000 after acquiring an additional 30,250 shares in the last quarter. Pier Capital LLC boosted its holdings in shares of Universal Technical Institute by 2.4% in the 4th quarter. Pier Capital LLC now owns 566,663 shares of the company's stock worth $14,569,000 after acquiring an additional 13,281 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Universal Technical Institute by 8.6% in the 4th quarter. Northern Trust Corp now owns 373,754 shares of the company's stock worth $9,609,000 after acquiring an additional 29,755 shares in the last quarter. 75.67% of the stock is currently owned by institutional investors.

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.