inTEST (NYSE:INTT) Issues Q1 2024 Earnings Guidance

inTEST (NYSE:INTT) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.100-0.100 for the period, compared to the consensus EPS estimate of 0.100. The company issued revenue guidance of $29.0 million-$29.0 million, compared to the consensus revenue estimate of $29.0 million. inTEST also updated its FY 2024 guidance to EPS.

inTEST Stock Performance

Shares of NYSE:INTT opened at $11.09 on Friday. The stock has a market capitalization of $134.85 million, a P/E ratio of 10.93 and a beta of 1.97. inTEST has a 1-year low of $10.66 and a 1-year high of $27.17. The company has a current ratio of 3.53, a quick ratio of 2.70 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $11.82 and a two-hundred day moving average price of $12.56.

inTEST (NYSE:INTT) last posted its earnings results on Wednesday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $27.88 million during the quarter, compared to analyst estimates of $32.70 million. inTEST had a return on equity of 13.46% and a net margin of 8.02%. Equities analysts predict that inTEST will post 1.04 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered inTEST from a buy rating to a hold rating in a research report on Saturday, April 6th.

Insider Activity at inTEST

In related news, CEO Richard N. Jr. Grant sold 21,500 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $12.03, for a total value of $258,645.00. Following the completion of the transaction, the chief executive officer now directly owns 171,717 shares in the company, valued at approximately $2,065,755.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other inTEST news, CEO Richard N. Jr. Grant sold 21,500 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $12.03, for a total value of $258,645.00. Following the sale, the chief executive officer now owns 171,717 shares in the company, valued at approximately $2,065,755.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard N. Jr. Grant sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $12.80, for a total value of $256,000.00. Following the completion of the sale, the chief executive officer now owns 215,217 shares in the company, valued at approximately $2,754,777.60. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On inTEST

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in inTEST by 238.8% in the 2nd quarter. BlackRock Inc. now owns 798,675 shares of the company’s stock valued at $20,973,000 after acquiring an additional 562,924 shares during the period. Vanguard Group Inc. raised its stake in inTEST by 32.2% in the 3rd quarter. Vanguard Group Inc. now owns 779,459 shares of the company’s stock valued at $11,824,000 after acquiring an additional 189,918 shares during the period. State Street Corp raised its stake in inTEST by 402.1% in the 2nd quarter. State Street Corp now owns 184,529 shares of the company’s stock valued at $4,846,000 after acquiring an additional 147,777 shares during the period. Geode Capital Management LLC grew its holdings in inTEST by 105.9% in the 2nd quarter. Geode Capital Management LLC now owns 197,012 shares of the company’s stock valued at $5,174,000 after buying an additional 101,341 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in inTEST by 300.2% in the 2nd quarter. Northern Trust Corp now owns 106,380 shares of the company’s stock valued at $2,794,000 after buying an additional 79,801 shares in the last quarter. Institutional investors own 63.18% of the company’s stock.

inTEST Company Profile

inTEST Corporation provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through three segments: Electronic Test, Environmental Technologies, and Process Technologies.