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inTest (INTT) Surges 8.9%: Is This an Indication of Further Gains?
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inTest Corporation (INTT - Free Report) shares rallied 8.9% in the last trading session to close at $8.72. 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 8.5% gain over the past four weeks.
INTT is benefiting from record order growth, backlog expansion, robust auto/EV and defense demand, higher conversion rates, and successful new product adoption, which support expectations of a gradual recovery.
This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -30.4%. Revenues are expected to be $31.74 million, down 13.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For inTest, 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.
inTest is a member of the Zacks Electronics - Measuring Instruments industry. One other stock in the same industry, Keysight (KEYS - Free Report) , finished the last trading session 2.4% higher at $214.5. KEYS has returned 5.5% over the past month.
For Keysight, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.99. This represents a change of +9.3% from what the company reported a year ago. Keysight currently has a Zacks Rank of #3 (Hold).
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inTest (INTT) Surges 8.9%: Is This an Indication of Further Gains?
inTest Corporation (INTT - Free Report) shares rallied 8.9% in the last trading session to close at $8.72. 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 8.5% gain over the past four weeks.
INTT is benefiting from record order growth, backlog expansion, robust auto/EV and defense demand, higher conversion rates, and successful new product adoption, which support expectations of a gradual recovery.
This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -30.4%. Revenues are expected to be $31.74 million, down 13.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For inTest, 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 is a member of the Zacks Electronics - Measuring Instruments industry. One other stock in the same industry, Keysight (KEYS - Free Report) , finished the last trading session 2.4% higher at $214.5. KEYS has returned 5.5% over the past month.
For Keysight, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.99. This represents a change of +9.3% from what the company reported a year ago. Keysight currently has a Zacks Rank of #3 (Hold).