inTEST (NYSE:INTT) Price Target Cut to $16.00

inTEST (NYSE:INTT) had its price target lowered by equities research analysts at Lake Street Capital from $19.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s price objective would indicate a potential upside of 51.23% from the company’s previous close.

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

inTEST Stock Performance

Shares of inTEST stock opened at $10.58 on Tuesday. The company’s 50 day moving average price is $11.67 and its two-hundred day moving average price is $12.23. The firm has a market capitalization of $132.12 million, a P/E ratio of 16.28 and a beta of 2.01. inTEST has a fifty-two week low of $9.71 and a fifty-two week 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 results on Monday, May 6th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $29.82 million during the quarter, compared to analysts’ expectations of $29.10 million. inTEST had a return on equity of 13.46% and a net margin of 8.02%. On average, equities analysts forecast that inTEST will post 1.04 earnings per share for the current fiscal year.

Insider Transactions at inTEST

In related news, CEO Richard N. Jr. Grant sold 20,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was 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 $2,754,777.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 owns 171,717 shares in the company, valued at approximately $2,065,755.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 transaction 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 $2,754,777.60. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On inTEST

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Eagle Investment Management LLC grew its holdings in inTEST by 24.2% during the 4th quarter. First Eagle Investment Management LLC now owns 447,197 shares of the company’s stock worth $6,082,000 after acquiring an additional 87,249 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in inTEST by 56.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 356,042 shares of the company’s stock valued at $4,842,000 after buying an additional 128,082 shares during the period. Bard Associates Inc. boosted its holdings in shares of inTEST by 0.8% during the 4th quarter. Bard Associates Inc. now owns 195,000 shares of the company’s stock worth $2,652,000 after buying an additional 1,475 shares in the last quarter. Kennedy Capital Management LLC increased its stake in shares of inTEST by 8.1% in the 3rd quarter. Kennedy Capital Management LLC now owns 125,008 shares of the company’s stock valued at $1,896,000 after acquiring an additional 9,384 shares in the last quarter. Finally, Stansberry Asset Management LLC increased its stake in shares of inTEST by 145.8% in the 3rd quarter. Stansberry Asset Management LLC now owns 113,911 shares of the company’s stock valued at $1,728,000 after acquiring an additional 67,561 shares in the last quarter. Institutional investors and hedge funds 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.