inTEST Co. (NYSE:INTT) Forecasted to Post Q2 2024 Earnings of $0.15 Per Share

inTEST Co. (NYSE:INTT) – Northland Capmk lowered their Q2 2024 EPS estimates for inTEST in a report issued on Tuesday, May 7th. Northland Capmk analyst E. Jackson now expects that the company will post earnings of $0.15 per share for the quarter, down from their previous forecast of $0.30. The consensus estimate for inTEST’s current full-year earnings is $1.04 per share. Northland Capmk also issued estimates for inTEST’s Q3 2024 earnings at $0.22 EPS, Q4 2024 earnings at $0.29 EPS and FY2024 earnings at $0.76 EPS.

inTEST (NYSE:INTT) last released its quarterly earnings data on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $29.82 million for the quarter, compared to analysts’ expectations of $29.10 million. inTEST had a net margin of 8.02% and a return on equity of 13.46%.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut inTEST from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Lake Street Capital cut their price target on shares of inTEST from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday.

inTEST Stock Down 1.9 %

NYSE INTT opened at $10.58 on Thursday. inTEST has a 1 year low of $9.71 and a 1 year high of $27.17. The stock has a market capitalization of $132.12 million, a PE ratio of 16.28 and a beta of 2.01. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.53 and a quick ratio of 2.70. The business’s 50-day moving average is $11.67 and its 200 day moving average is $12.23.

Insider Activity at inTEST

In other inTEST news, 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 shares were sold at an average price of $12.03, for a total transaction of $258,645.00. Following the completion of the transaction, 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 can be accessed through the SEC website. Also, CEO Richard N. Jr. Grant sold 20,000 shares of the stock in a transaction that occurred 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 transaction, 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 currently owned by corporate insiders.

Institutional Investors Weigh In On inTEST

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of inTEST by 21.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,153 shares of the company’s stock valued at $188,000 after purchasing an additional 2,476 shares during the period. Tower Research Capital LLC TRC lifted its holdings in inTEST by 76.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,640 shares of the company’s stock valued at $50,000 after purchasing an additional 1,574 shares in the last quarter. Bard Associates Inc. boosted its position in shares of inTEST by 0.8% in the fourth quarter. Bard Associates Inc. now owns 195,000 shares of the company’s stock worth $2,652,000 after purchasing an additional 1,475 shares during the period. Pacific Ridge Capital Partners LLC increased its stake in shares of inTEST by 56.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 356,042 shares of the company’s stock worth $4,842,000 after purchasing an additional 128,082 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of inTEST by 24.9% during the 4th quarter. D.A. Davidson & CO. now owns 13,800 shares of the company’s stock valued at $188,000 after purchasing an additional 2,750 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.