Universal Technical Institute (NYSE:UTI) Given New $24.00 Price Target at Northland Securities

Universal Technical Institute (NYSE:UTI) had its price objective increased by equities researchers at Northland Securities from $20.00 to $24.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price target would suggest a potential upside of 20.66% from the stock’s previous close.

Other research analysts have also issued reports about the stock. B. Riley lifted their price objective on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Truist Financial assumed coverage on Universal Technical Institute in a research note on Thursday, July 25th. They set a “buy” rating and a $22.00 price target for the company. Barrington Research restated an “outperform” rating and set a $22.00 target price on shares of Universal Technical Institute in a research note on Friday, November 15th. StockNews.com upgraded Universal Technical Institute from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of Universal Technical Institute in a report on Wednesday, September 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $23.00.

Universal Technical Institute Stock Performance

Shares of Universal Technical Institute stock opened at $19.89 on Thursday. 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 business has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $16.57. The company has a market cap of $1.07 billion, a PE ratio of 39.78, a P/E/G ratio of 1.45 and a beta of 1.34. Universal Technical Institute has a one year low of $10.46 and a one year high of $20.73.

Insider Buying and Selling

In related news, CEO Jerome Alan Grant sold 68,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $17.53, for a total value of $1,192,040.00. Following the completion of the sale, the chief executive officer now owns 136,443 shares of the company’s stock, valued at $2,391,845.79. This represents a 33.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 27.60% of the company’s stock.

Institutional Trading of Universal Technical Institute

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its holdings in Universal Technical Institute by 73,048.1% during the third quarter. FMR LLC now owns 879,240 shares of the company’s stock worth $14,296,000 after buying an additional 878,038 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Universal Technical Institute by 55.0% in the first quarter. Vanguard Group Inc. now owns 2,375,929 shares of the company’s stock worth $37,872,000 after acquiring an additional 842,765 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Universal Technical Institute during the second quarter worth $9,032,000. Pembroke Management LTD grew its stake in Universal Technical Institute by 646.3% in the second quarter. Pembroke Management LTD now owns 369,308 shares of the company’s stock valued at $5,809,000 after purchasing an additional 319,820 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Universal Technical Institute by 198.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 345,772 shares of the company’s stock valued at $5,622,000 after buying an additional 229,738 shares during the last quarter. Institutional investors own 75.67% of the company’s stock.

Universal Technical Institute Company Profile

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.