Universal Technical Institute, Inc. (NYSE:UTI) reported better-than-expected earnings for its fourth quarter on Wednesday.
The company posted quarterly earnings of 34 cents per share which beat the analyst consensus estimate of 30 cents per share. The company reported quarterly sales of $196.36 million which beat the analyst consensus estimate of $191.39 million.
"We concluded the first stage of our North Star Strategy in fiscal 2024 achieving both strong results and momentum," said Jerome Grant, CEO of Universal Technical Institute, Inc. "We met or exceeded guidance across all key metrics with full year revenue and adjusted EBITDA increasing over 21% and 60% year-over-year, respectively. These results reflect our consistent execution on the growth, diversification, and optimization tenets of our strategic plan as we continue ramping newly launched programs across both divisions, while further improving margins through workforce and facilities optimization.
Universal Technical Institute said it sees FY25 earnings of 93 cents to $1.01 per share on revenue of $800 million to $815 million.
Universal Technical Institute shares jumped 20.3% to trade at $23.92 on Thursday.
These analysts made changes to their price targets on Universal Technical Institute following earnings announcement.
- Lake Street analyst Eric Martinuzzi maintained Universal Technical with a Buy and raised the price target from $19 to $22.
- Barrington Research analyst Alexander Paris maintained the stock with an Outperform rating and raised the price target from $22 to $25.
- Truist Securities analyst Jasper Bibb maintained Universal Technical with a Buy and raised the price target from $22 to $26.
Considering buying UTI stock? Here's what analysts think:
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