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

Universal Technical Institute, Inc. (NYSE:UTI)’s stock price gapped down before the market opened 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.

Analyst Ratings Changes

UTI has been the topic of a number of research reports. Barrington Research increased their target price on shares of Universal Technical Institute from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Northland Securities increased their target price on shares of Universal Technical Institute from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial increased their target price on shares of Universal Technical Institute from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. StockNews.com raised shares of Universal Technical Institute from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Lake Street Capital increased their target price on shares of Universal Technical Institute from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $25.33.

Universal Technical Institute Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.08. The stock’s fifty day moving average is $18.66 and its two-hundred day moving average is $17.20. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 1.67 and a beta of 1.48.

Insider Buying and Selling

In other Universal Technical Institute news, Director Kenneth R. Trammell sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.92, for a total transaction of $777,600.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Universal Technical Institute

Several large investors have recently bought and sold shares of UTI. Sanctuary Advisors LLC acquired a new position in shares of Universal Technical Institute in the third quarter worth about $794,000. Geode Capital Management LLC boosted its holdings 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 period. Guardian Wealth Management Inc. boosted its holdings in shares of Universal Technical Institute by 5,347.0% in the third quarter. Guardian Wealth Management Inc. now owns 86,553 shares of the company’s stock worth $1,407,000 after buying an additional 84,964 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Universal Technical Institute in the third quarter worth about $174,000. Finally, Pier Capital LLC boosted its holdings in shares of Universal Technical Institute by 57.3% in the third quarter. Pier Capital LLC now owns 553,382 shares of the company’s stock worth $8,998,000 after buying an additional 201,573 shares during the period. 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.