inTEST (NYSE:INTT) Updates Q1 2024 Earnings Guidance

inTEST (NYSE:INTT) updated its first quarter 2024 earnings guidance on Friday. 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.

Analyst Ratings Changes

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

inTEST Stock Performance

Shares of NYSE INTT opened at $11.03 on Friday. The stock has a 50 day moving average price of $11.83 and a 200 day moving average price of $12.57. inTEST has a 52 week low of $10.66 and a 52 week high of $27.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.70 and a current ratio of 3.53. The stock has a market capitalization of $134.12 million, a PE ratio of 12.98 and a beta of 1.97.

inTEST (NYSE:INTT) last issued its quarterly earnings results on Wednesday, March 27th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $27.88 million during the quarter, compared to analysts’ expectations 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.

Insider Buying and Selling at inTEST

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

Hedge Funds Weigh In On inTEST

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP increased its stake in shares of inTEST by 21.1% during the first quarter. Engineers Gate Manager LP now owns 17,418 shares of the company’s stock worth $187,000 after purchasing an additional 3,030 shares during the period. Wells Fargo & Company MN increased its stake in shares of inTEST by 9,172.2% during the second quarter. Wells Fargo & Company MN now owns 6,676 shares of the company’s stock worth $175,000 after purchasing an additional 6,604 shares during the period. Prelude Capital Management LLC bought a new position in shares of inTEST during the fourth quarter worth approximately $172,000. Wellington Management Group LLP bought a new position in shares of inTEST during the first quarter worth approximately $161,000. Finally, Barclays PLC bought a new position in shares of inTEST during the first quarter worth approximately $154,000. 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.