Northland Capmk Comments on inTEST Co.’s Q2 2024 Earnings (NYSE:INTT)

inTEST Co. (NYSE:INTT) – Analysts at Northland Capmk decreased their Q2 2024 EPS estimates for shares of inTEST in a report issued on Tuesday, May 7th. Northland Capmk analyst E. Jackson now anticipates 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.

Other research analysts have also issued research reports about the company. StockNews.com lowered inTEST from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Lake Street Capital decreased their target price on inTEST from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday.

inTEST Price Performance

Shares of inTEST stock opened at $10.58 on Thursday. The firm has a market cap of $132.12 million, a PE ratio of 16.28 and a beta of 2.01. The business has a 50-day moving average price of $11.67 and a 200 day moving average price of $12.23. 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 twelve month low of $9.71 and a twelve month high of $27.17.

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

Insider Buying and Selling

In other news, CEO Richard N. Jr. Grant sold 21,500 shares of the 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 completion of the transaction, the chief executive officer now directly 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 is accessible through the SEC website. In other news, CEO Richard N. Jr. Grant sold 20,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $12.80, for a total transaction of $256,000.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 171,717 shares of the company’s stock, valued at approximately $2,065,755.51. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On inTEST

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of inTEST by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 96,112 shares of the company’s stock worth $1,458,000 after purchasing an additional 983 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in inTEST in the 3rd quarter worth $165,000. Watershed Asset Management L.L.C. bought a new stake in inTEST in the third quarter valued at about $261,000. Great Valley Advisor Group Inc. acquired a new stake in inTEST during the third quarter valued at approximately $167,000. Finally, Jump Financial LLC bought a new position in inTEST during the 3rd quarter worth approximately $240,000. 63.18% of the stock is currently owned by institutional investors and hedge funds.

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.