Universal Technical Institute (NYSE:UTI) Price Target Raised to $22.00

Universal Technical Institute (NYSE:UTI) had its target price hoisted by equities research analysts at Lake Street Capital from $19.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price target indicates a potential downside of 5.42% from the stock’s current price.

A number of other brokerages have also issued reports on UTI. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Universal Technical Institute in a research report on Wednesday, September 11th. Barrington Research restated an “outperform” rating and set a $22.00 price objective on shares of Universal Technical Institute in a report on Friday, November 15th. Truist Financial assumed coverage on shares of Universal Technical Institute in a report on Thursday, July 25th. They issued a “buy” rating and a $22.00 target price for the company. StockNews.com upgraded shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Northland Securities raised their price objective on shares of Universal Technical Institute from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Universal Technical Institute has a consensus rating of “Buy” and a consensus price target of $22.83.

Universal Technical Institute Price Performance

Shares of NYSE:UTI traded up $3.37 during trading hours on Thursday, hitting $23.26. 355,865 shares of the company’s stock traded hands, compared to its average volume of 517,696. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day simple moving average is $17.06 and its two-hundred day simple moving average is $16.57. Universal Technical Institute has a 52 week low of $10.46 and a 52 week high of $24.44. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 1.45 and a beta of 1.34.

Insider Activity

In other news, CEO Jerome Alan Grant sold 68,000 shares of Universal Technical Institute stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $17.53, for a total transaction of $1,192,040.00. Following the completion of the sale, the chief executive officer now directly owns 136,443 shares in the company, valued at $2,391,845.79. The trade was a 33.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 27.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Technical Institute

A number of institutional investors have recently added to or reduced their stakes in UTI. Vanguard Group Inc. lifted its stake in shares of Universal Technical Institute by 55.0% in the 1st quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock valued at $37,872,000 after purchasing an additional 842,765 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Universal Technical Institute by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,004,788 shares of the company’s stock valued at $31,533,000 after buying an additional 36,135 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Universal Technical Institute by 9.8% in the third quarter. Geode Capital Management LLC now owns 952,799 shares of the company’s stock worth $15,496,000 after buying an additional 85,417 shares during the last quarter. FMR LLC boosted its stake in shares of Universal Technical Institute by 73,048.1% during the 3rd quarter. FMR LLC now owns 879,240 shares of the company’s stock worth $14,296,000 after acquiring an additional 878,038 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Universal Technical Institute by 3.6% during the 3rd quarter. State Street Corp now owns 856,091 shares of the company’s stock valued at $13,920,000 after acquiring an additional 29,461 shares during the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.

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.