Universal Technical Institute (NYSE:UTI) Shares Pass Above 200-Day Moving Average - Here's What Happened

Universal Technical Institute Inc (NYSE:UTI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.25 and traded as high as $31.94. Universal Technical Institute shares last traded at $31.75, with a volume of 321,937 shares traded.

Wall Street Analyst Weigh In

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

Universal Technical Institute Stock Up 2.1%

The business has a 50-day moving average price of $33.62 and a 200 day moving average price of $29.33. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.77 billion, a P/E ratio of 31.29, a P/E/G ratio of 2.01 and a beta of 1.58.

Universal Technical Institute (NYSE:UTI - Get Free Report) last released its quarterly 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 7.34% and a return on equity of 21.40%. The company had revenue of $207.45 million for the quarter, compared to the consensus estimate of $196.63 million. On average, equities analysts expect that Universal Technical Institute Inc will post 1 EPS for the current fiscal year.

Insider Activity

In related news, 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 transaction, the director owned 32,516 shares in the company, valued at approximately $1,035,309.44. This trade represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 sale, the chief operating officer owned 80,521 shares in the company, 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. 15.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Technical Institute

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd increased its position in Universal Technical Institute by 24.4% during the fourth quarter. Covestor Ltd now owns 1,977 shares of the company's stock valued at $51,000 after acquiring an additional 388 shares during the last quarter. 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 valued at $56,000 after purchasing an additional 1,110 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Universal Technical Institute in the 1st quarter worth about $57,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Universal Technical Institute in the first quarter worth about $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Universal Technical Institute during the first quarter valued at approximately $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.