InTest Corporation (INTT) Stock Falls Amid Market Uptick: What Investors Need to Know
inTest Corporation (INTT) closed the most recent trading day at $11.66, moving -0.85% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.13%. Elsewhere, the Dow saw an upswing of 0.13%, while the tech-heavy Nasdaq depreciated by 0.32%.
The the stock of company has fallen by 5.92% in the past month, lagging the Computer and Technology sector's gain of 2.15% and the S&P 500's gain of 2.99%.
Investors will be eagerly watching for the performance of inTest Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 1, 2024. In that report, analysts expect inTest Corporation to post earnings of $0.13 per share. This would mark a year-over-year decline of 61.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.3 million, down 9.6% from the year-ago period.
It is also important to note the recent changes to analyst estimates for inTest Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, inTest Corporation boasts a Zacks Rank of #3 (Hold).
Investors should also note inTest Corporation's current valuation metrics, including its Forward P/E ratio of 13.36. This denotes a discount relative to the industry's average Forward P/E of 22.17.
The Electronics - Measuring Instruments industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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inTest Corporation (INTT) : Free Stock Analysis Report
