inTEST (NYSE:INTT) Given New $16.00 Price Target at Lake Street Capital

inTEST (NYSE:INTT) had its price objective dropped by equities researchers at Lake Street Capital from $19.00 to $16.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 48.42% from the company’s current price.

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

inTEST Price Performance

Shares of NYSE:INTT traded down $0.91 during trading on Tuesday, hitting $10.78. 198,742 shares of the company were exchanged, compared to its average volume of 101,720. The company has a quick ratio of 2.70, a current ratio of 3.53 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $134.64 million, a P/E ratio of 12.64 and a beta of 2.01. The business’s 50 day moving average is $11.71 and its 200-day moving average is $12.26. inTEST has a 1-year low of $9.71 and a 1-year high of $27.17.

inTEST (NYSE:INTT) last released its quarterly earnings data on Wednesday, March 27th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $27.88 million during the quarter, compared to the consensus estimate of $32.70 million. inTEST had a net margin of 8.02% and a return on equity of 13.46%. Equities analysts forecast that inTEST will post 1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Richard N. Jr. Grant sold 21,500 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $12.03, for a total value of $258,645.00. Following the completion of the sale, the chief executive officer now owns 171,717 shares of the company’s stock, valued at approximately $2,065,755.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other inTEST news, 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 transaction, the chief executive officer now owns 215,217 shares in the company, valued at $2,754,777.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard N. Jr. Grant sold 21,500 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $12.03, for a total transaction of $258,645.00. Following the transaction, the chief executive officer now 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. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On inTEST

A number of large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of 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 acquiring an additional 1,574 shares during the last quarter. Barclays PLC lifted its stake in shares of inTEST by 161.9% during the 3rd quarter. Barclays PLC now owns 7,521 shares of the company’s stock valued at $114,000 after buying an additional 4,649 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in inTEST in the 4th quarter valued at $154,000. Allspring Global Investments Holdings LLC purchased a new position in shares of inTEST during the 3rd quarter worth about $165,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in inTEST in the 3rd quarter valued at about $167,000. 63.18% of the stock is currently owned by institutional investors.

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.