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inTest Corporation (INTT) Moves 6.2% Higher: Will This Strength Last?

Zacks Equity Research
·2-min read

inTest Corporation (INTT) shares rallied 6.2% in the last trading session to close at $13.06. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 19.8% gain over the past four weeks.

The recent surge in inTest's share price reflects bullish sentiment of the investors in the stock. Notably, the company has strong fundamentals which is instilling investor confidence. Moreover, the company’s strength in the analog/mixed signal test and silicon carbide production markets is helping it sustain momentum among customers.

This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of +214.3%. Revenues are expected to be $30.46 million, up 36.2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For inTest Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INTT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

inTest Corporation belongs to the Zacks Electronics - Measuring Instruments industry. Another stock from the same industry, Keysight (KEYS), closed the last trading session 0.9% lower at $177.92. Over the past month, KEYS has returned -1.9%.

For Keysight , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.85. This represents a change of +12.1% from what the company reported a year ago. Keysight currently has a Zacks Rank of #3 (Hold).

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Zacks Investment Research