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

NYSE:INTT opened at $11.03 on Friday. The business has a 50 day moving average of $11.83 and a 200 day moving average of $12.57. The company has a market capitalization of $134.12 million, a price-to-earnings ratio of 11.16 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 debt-to-equity ratio of 0.09, a current ratio of 3.53 and a quick ratio of 2.70.

inTEST (NYSE:INTT) last announced its quarterly earnings data on Wednesday, March 27th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. inTEST had a return on equity of 13.46% and a net margin of 8.02%. The firm had revenue of $27.88 million during the quarter, compared to the consensus estimate of $32.70 million. On average, sell-side analysts predict that inTEST will post 1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in inTEST by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 803,013 shares of the company’s stock worth $10,921,000 after buying an additional 23,554 shares in the last quarter. BlackRock Inc. increased its position in inTEST by 238.8% in the second quarter. BlackRock Inc. now owns 798,675 shares of the company’s stock worth $20,973,000 after buying an additional 562,924 shares in the last quarter. Renaissance Technologies LLC increased its position in inTEST by 2.3% in the second quarter. Renaissance Technologies LLC now owns 736,137 shares of the company’s stock worth $5,020,000 after buying an additional 16,300 shares in the last quarter. Dimensional Fund Advisors LP increased its position in inTEST by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 585,916 shares of the company’s stock worth $7,968,000 after buying an additional 7,477 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in inTEST by 105.9% in the second 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 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.