Universal Technical Institute (NYSE:UTI) Share Price Breaks Above 50-Day Moving Average – Here’s Why

by · The Cerbat Gem

Shares of Universal Technical Institute Inc (NYSE:UTI – Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $20.80 and traded as high as $22.68. Universal Technical Institute shares last traded at $21.9570, with a volume of 1,433,493 shares.

Wall Street Analysts Forecast Growth

UTI has been the subject of several recent research reports. Northland Securities set a $35.00 price objective on Universal Technical Institute in a report on Thursday, September 10th. Truist Financial lowered their price objective on Universal Technical Institute from $47.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Universal Technical Institute from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Texas Capital lowered shares of Universal Technical Institute from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $45.00 target price on shares of Universal Technical Institute in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Universal Technical Institute presently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

View Our Latest Research Report on Universal Technical Institute

Universal Technical Institute Price Performance

The firm has a market cap of $1.27 billion, a P/E ratio of 37.24, a PEG ratio of 2.11 and a beta of 1.18. The business’s fifty day simple moving average is $20.88 and its 200-day simple moving average is $31.99. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46.

Institutional Trading of Universal Technical Institute

A number of hedge funds and other institutional investors have recently made changes to their positions in UTI. Boston Partners purchased a new position in Universal Technical Institute during the 3rd quarter valued at about $14,010,000. Public Sector Pension Investment Board increased its position in shares of Universal Technical Institute by 103.5% during the third quarter. Public Sector Pension Investment Board now owns 354,147 shares of the company’s stock valued at $6,612,000 after buying an additional 180,077 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Universal Technical Institute during the third quarter valued at about $2,749,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Universal Technical Institute by 21.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 62,393 shares of the company’s stock worth $1,164,000 after buying an additional 10,951 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Universal Technical Institute by 12.1% in the third quarter. Royce & Associates LP now owns 1,343,507 shares of the company’s stock worth $25,083,000 after buying an additional 145,363 shares in the last quarter. 75.67% of the stock is currently owned by institutional investors.

About Universal Technical Institute

(Get Free Report)

Universal Technical Institute, Inc. (UTI) is a provider of career-focused postsecondary education and training. Founded in 1965, the company prepares students for careers in transportation, skilled trades and health care through campus-based and online programs. UTI’s transportation and skilled-trades programs cover areas such as automotive, diesel, collision repair, motorcycle and marine technology, welding, heating, ventilation and air conditioning, and robotics and automation. Programs are offered through brands including Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute and MIAT College of Technology.

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