Universal Technical Institute (NYSE:UTI) Shares Gap Down – Here’s Why

Shares of Universal Technical Institute, Inc. (NYSE:UTI) gapped down prior to trading on Tuesday . The stock had previously closed at $26.44, but opened at $24.83. Universal Technical Institute shares last traded at $23.94, with a volume of 496,802 shares trading hands.

Analyst Ratings Changes

UTI has been the topic of several analyst reports. Truist Financial raised their target price on Universal Technical Institute from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Barrington Research boosted their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. StockNews.com upgraded Universal Technical Institute from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. B. Riley upped their price target on Universal Technical Institute from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities raised their price objective on Universal Technical Institute from $22.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.33.

Universal Technical Institute Stock Down 8.2 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.02. The business has a fifty day simple moving average of $18.50 and a 200 day simple moving average of $17.14. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.79 and a beta of 1.48.

Insider Transactions at Universal Technical Institute

In related news, Director Kenneth R. Trammell sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.92, for a total value of $777,600.00. Following the completion of the sale, the director now owns 128,205 shares of the company’s stock, valued at approximately $3,323,073.60. This trade represents a 18.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 made changes to their positions in UTI. Sanctuary Advisors LLC purchased a new stake in Universal Technical Institute in the 3rd quarter valued at about $794,000. Geode Capital Management LLC raised its stake in shares of Universal Technical Institute by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 952,799 shares of the company’s stock valued at $15,496,000 after acquiring an additional 85,417 shares during the period. Guardian Wealth Management Inc. lifted its holdings in shares of Universal Technical Institute by 5,347.0% in the 3rd quarter. Guardian Wealth Management Inc. now owns 86,553 shares of the company’s stock worth $1,407,000 after acquiring an additional 84,964 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Universal Technical Institute during the 3rd quarter worth approximately $174,000. Finally, Pier Capital LLC increased its holdings in Universal Technical Institute by 57.3% in the 3rd quarter. Pier Capital LLC now owns 553,382 shares of the company’s stock valued at $8,998,000 after purchasing an additional 201,573 shares during the last quarter. Institutional investors and hedge funds 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.