Universal Technical Institute (NYSE:UTI) Coverage Initiated by Analysts at Canaccord Genuity

Canaccord Genuity initiated coverage on shares of Universal Technical Institute (NYSE:UTI) in a research report released on Thursday morning, Benzinga reports. The firm issued a buy rating and a $12.00 target price on the stock.

Several other research analysts have also issued reports on UTI. TheStreet lowered shares of Universal Technical Institute from a b- rating to a c+ rating in a research note on Thursday, July 9th. Zacks Investment Research lowered shares of Universal Technical Institute from a hold rating to a strong sell rating in a research note on Saturday, August 1st. Barrington Research reaffirmed a buy rating and issued a $9.00 target price on shares of Universal Technical Institute in a research note on Tuesday, September 15th. B. Riley reaffirmed a buy rating and issued a $11.00 target price on shares of Universal Technical Institute in a research note on Wednesday, July 1st. Finally, Argus reduced their target price on shares of Universal Technical Institute from $12.00 to $9.00 and set a buy rating on the stock in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $9.46.

UTI opened at $6.65 on Thursday. The stock has a market capitalization of $216.86 million, a PE ratio of -60.45 and a beta of 0.91. Universal Technical Institute has a 1-year low of $2.75 and a 1-year high of $9.76. The firm has a 50-day moving average price of $7.34 and a two-hundred day moving average price of $6.69.

Universal Technical Institute (NYSE:UTI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.31). Universal Technical Institute had a net margin of 2.25% and a negative return on equity of 3.19%. On average, sell-side analysts expect that Universal Technical Institute will post -0.14 EPS for the current fiscal year.

In related news, Director Kimberly J. Mcwaters sold 40,000 shares of Universal Technical Institute stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $6.61, for a total transaction of $264,400.00. Following the transaction, the director now owns 279,823 shares of the company’s stock, valued at approximately $1,849,630.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Park West Asset Management LLC lifted its stake in Universal Technical Institute by 57.1% in the first quarter. Park West Asset Management LLC now owns 3,220,858 shares of the company’s stock valued at $19,164,000 after buying an additional 1,170,509 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Universal Technical Institute by 0.5% in the second quarter. Driehaus Capital Management LLC now owns 689,061 shares of the company’s stock valued at $4,789,000 after buying an additional 3,687 shares in the last quarter. RBF Capital LLC lifted its stake in Universal Technical Institute by 57.6% in the first quarter. RBF Capital LLC now owns 474,921 shares of the company’s stock valued at $2,826,000 after buying an additional 173,484 shares in the last quarter. BlackRock Inc. lifted its stake in Universal Technical Institute by 1.5% in the first quarter. BlackRock Inc. now owns 466,737 shares of the company’s stock valued at $2,778,000 after buying an additional 6,781 shares in the last quarter. Finally, EAM Investors LLC lifted its stake in Universal Technical Institute by 106.3% in the first quarter. EAM Investors LLC now owns 430,252 shares of the company’s stock valued at $2,560,000 after buying an additional 221,715 shares in the last quarter. 66.67% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Technical Institute

Universal Technical Institute, Inc provides postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle, and marine technicians in the United States. It offers certificate, diploma, or degree programs; and specialized technical education programs under various brands, such as Universal Technical Institute, Motorcycle Mechanics Institute and Marine Mechanics Institute, and NASCAR Technical Institute.

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