Principal Financial Group Inc. Takes Position in Universal Technical Institute, Inc. (NYSE:UTI)

Principal Financial Group Inc. purchased a new position in shares of Universal Technical Institute, Inc. (NYSE:UTI) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 24,288 shares of the company’s stock, valued at approximately $395,000.

A number of other hedge funds also recently modified their holdings of UTI. RiverPark Advisors LLC purchased a new position in shares of Universal Technical Institute in the second quarter valued at $43,000. International Assets Investment Management LLC boosted its stake in Universal Technical Institute by 1,526.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,065 shares of the company’s stock worth $66,000 after purchasing an additional 3,815 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Universal Technical Institute by 95,120.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,522 shares of the company’s stock worth $150,000 after purchasing an additional 9,512 shares during the period. ProShare Advisors LLC purchased a new position in Universal Technical Institute during the 2nd quarter valued at about $167,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Universal Technical Institute during the first quarter valued at about $181,000. Institutional investors own 75.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of Universal Technical Institute from $22.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. B. Riley lifted their price objective on Universal Technical Institute from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $22.00 target price on shares of Universal Technical Institute in a research note on Wednesday, September 11th. Barrington Research lifted their price target on Universal Technical Institute from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Northland Securities boosted their price objective on Universal Technical Institute from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.00.

Universal Technical Institute Trading Up 7.5 %

Shares of NYSE:UTI opened at $25.38 on Monday. The stock’s 50-day simple moving average is $17.37 and its two-hundred day simple moving average is $16.68. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.76 and a beta of 1.34. Universal Technical Institute, Inc. has a 52-week low of $10.46 and a 52-week high of $25.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.08.

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.