inTEST (NYSE:INTT) Updates Q1 2024 Earnings Guidance

inTEST (NYSE:INTT) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.100-0.100 for the period, compared to the consensus earnings per share 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 INTT stock opened at $11.03 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.53 and a quick ratio of 2.70. inTEST has a fifty-two week low of $10.66 and a fifty-two week high of $27.17. The stock’s 50-day moving average is $11.83 and its two-hundred day moving average is $12.57. The firm has a market cap of $134.12 million, a P/E ratio of 12.98 and a beta of 1.97.

inTEST (NYSE:INTT) last issued its quarterly earnings data on Wednesday, March 27th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $27.88 million for 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%. Analysts predict that inTEST will post 1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at inTEST

In other inTEST news, CEO Richard N. Jr. Grant sold 21,500 shares of the firm’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 of the company’s stock, valued at approximately $2,065,755.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other inTEST news, CEO Richard N. Jr. Grant sold 21,500 shares of the firm’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 of the company’s stock, valued at approximately $2,065,755.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard N. Jr. Grant sold 20,000 shares of the firm’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 directly owns 215,217 shares in the company, valued at approximately $2,754,777.60. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Institutional Trading of inTEST

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

About inTEST

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.