Why the Market Dipped But inTest Corporation (INTT) Gained Today
In the latest market close, inTest Corporation (INTT) reached $12.15, with a +1.25% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.37%. Elsewhere, the Dow saw a downswing of 0.62%, while the tech-heavy Nasdaq depreciated by 0.19%.
The company's stock has dropped by 1.48% in the past month, falling short of the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56%.
Investors will be eagerly watching for the performance of inTest Corporation in its upcoming earnings disclosure. On that day, inTest Corporation is projected to report earnings of $0.13 per share, which would represent a year-over-year decline of 61.76%. Meanwhile, our latest consensus estimate is calling for revenue of $29.3 million, down 9.6% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for inTest Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. inTest Corporation currently has a Zacks Rank of #3 (Hold).
Looking at valuation, inTest Corporation is presently trading at a Forward P/E ratio of 13.64. This indicates a discount in contrast to its industry's Forward P/E of 21.84.
The Electronics - Measuring Instruments industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 221, positioning it in the bottom 13% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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inTest Corporation (INTT) : Free Stock Analysis Report
