Universal Technical Institute (NYSE:UTI) Price Target Cut to $45.00 by Analysts at B. Riley Financial

Universal Technical Institute (NYSE:UTI) had its target price lowered by equities researchers at B. Riley Financial from $48.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial‘s price objective points to a potential upside of 102.99% from the company’s previous close.

A number of other brokerages also recently commented on UTI. Texas Capital downgraded Universal Technical Institute from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Weiss Ratings cut shares of Universal Technical Institute from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Truist Financial decreased their price target on shares of Universal Technical Institute from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Universal Technical Institute in a research note on Thursday, August 6th. Finally, Northland Securities set a $35.00 price target on shares of Universal Technical Institute in a report on Thursday, September 10th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.33.

Universal Technical Institute Price Performance

Shares of NYSE UTI opened at $22.17 on Wednesday. The stock’s 50-day moving average is $20.96 and its two-hundred day moving average is $32.29. Universal Technical Institute has a 1-year low of $18.02 and a 1-year high of $51.34. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 35.76 and a beta of 1.19.

Universal Technical Institute (NYSE:UTI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $218.91 million during the quarter, compared to analyst estimates of $220.40 million. Equities research analysts anticipate that Universal Technical Institute will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of Universal Technical Institute

A number of hedge funds and other institutional investors have recently bought and sold shares of UTI. Nykredit A S purchased a new stake in Universal Technical Institute during the 2nd quarter worth about $25,000. SBI Securities Co. Ltd. increased its holdings in shares of Universal Technical Institute by 332.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,497 shares of the company’s stock valued at $28,000 after acquiring an additional 1,151 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Universal Technical Institute by 845.2% in the 3rd quarter. Sterling Capital Management LLC now owns 1,588 shares of the company’s stock valued at $30,000 after acquiring an additional 1,420 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Universal Technical Institute by 543.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 888 shares of the company’s stock valued at $32,000 after acquiring an additional 750 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Universal Technical Institute during the 2nd quarter worth about $109,000. 75.67% of the stock is currently owned by institutional investors and hedge funds.

About Universal Technical Institute

Universal Technical Institute, Inc (NYSE: UTI) is a provider of postsecondary technical education in the United States. Founded in 1965, the company prepares students for careers in transportation, skilled trades, energy, and other technical fields through hands-on instruction and industry-focused training.

Its programs cover automotive, diesel, collision repair, motorcycle, marine, welding, CNC machining, robotics and automation, wind energy, and industrial technology. The company operates under several specialized brands, including Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.