inTEST (NYSE:INTT - Get Free Report) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.100-0.100 for the period, compared to the consensus 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.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut inTEST from a buy rating to a hold rating in a research report on Saturday, April 6th.
Check Out Our Latest Stock Analysis on INTT
inTEST Stock Up 0.5 %
Shares of INTT traded up $0.05 during mid-day trading on Friday, hitting $11.09. 95,928 shares of the company traded hands, compared to its average volume of 100,460. The business has a 50 day moving average of $11.82 and a 200 day moving average of $12.56. The company has a market capitalization of $134.91 million, a PE ratio of 13.05 and a beta of 1.97. The company has a quick ratio of 2.70, a current ratio of 3.53 and a debt-to-equity ratio of 0.09. inTEST has a 1-year low of $10.66 and a 1-year high of $27.17.
inTEST (NYSE:INTT - Get Free Report) last posted its quarterly earnings results on Wednesday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.04. The business had revenue of $27.88 million during the quarter, compared to analysts' expectations of $32.70 million. inTEST had a net margin of 8.02% and a return on equity of 13.46%. Equities research analysts anticipate that inTEST will post 1.04 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Richard N. Jr. Grant sold 21,500 shares of the firm's stock in a transaction dated 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 $2,065,755.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Richard N. Jr. Grant sold 20,000 shares of the firm's stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $12.80, for a total transaction of $256,000.00. Following the completion of the transaction, the chief executive officer now owns 215,217 shares of the company's stock, valued at $2,754,777.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard N. Jr. Grant sold 21,500 shares of the business's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $12.03, for a total transaction of $258,645.00. Following the transaction, the chief executive officer now owns 171,717 shares of the company's stock, valued at $2,065,755.51. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On inTEST
A number of institutional investors have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of inTEST in the second quarter worth about $35,000. Tower Research Capital LLC TRC boosted its position in inTEST by 69.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,066 shares of the company's stock worth $31,000 after purchasing an additional 845 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of inTEST by 329.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,579 shares of the company's stock worth $92,000 after purchasing an additional 1,979 shares during the period. California State Teachers Retirement System acquired a new stake in shares of inTEST during the 2nd quarter worth approximately $94,000. Finally, UBS Group AG increased its holdings in shares of inTEST by 28.4% during the 1st quarter. UBS Group AG now owns 3,748 shares of the company's stock valued at $78,000 after purchasing an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 63.18% of the company's stock.
About inTEST
(
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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.
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