Custom Truck One Source (NYSE:CTOS) Reaches New 1-Year Low on Disappointing Earnings

Custom Truck One Source, Inc. (NYSE:CTOS) reached a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $4.75 and last traded at $4.77, with a volume of 118120 shares. The stock had previously closed at $6.11.

The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Custom Truck One Source had a net margin of 3.08% and a return on equity of 6.64%. The company had revenue of $434.35 million for the quarter, compared to analyst estimates of $418.05 million. During the same quarter last year, the business earned ($0.01) EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis.

Wall Street Analysts Forecast Growth

CTOS has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating and set a $9.00 price target on shares of Custom Truck One Source in a report on Wednesday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Custom Truck One Source from $7.50 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Custom Truck One Source from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Citigroup lowered their price objective on shares of Custom Truck One Source from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Custom Truck One Source presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Insider Buying and Selling

In related news, Director Ecp Controlco, Llc sold 41,140 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $6.51, for a total value of $267,821.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Custom Truck One Source by 17.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,771 shares of the company’s stock valued at $80,000 after buying an additional 1,714 shares during the last quarter. Register Financial Advisors LLC increased its stake in shares of Custom Truck One Source by 66.7% in the 3rd quarter. Register Financial Advisors LLC now owns 5,000 shares of the company’s stock valued at $31,000 after acquiring an additional 2,000 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Custom Truck One Source by 214.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,666 shares of the company’s stock valued at $31,000 after acquiring an additional 2,499 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Custom Truck One Source by 107.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,480 shares of the company’s stock valued at $44,000 after acquiring an additional 3,877 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Custom Truck One Source by 18.4% in the 1st quarter. American International Group Inc. now owns 29,085 shares of the company’s stock valued at $244,000 after acquiring an additional 4,525 shares during the last quarter. 91.92% of the stock is owned by institutional investors.

Custom Truck One Source Trading Down 18.2 %

The company has a current ratio of 1.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $1.23 billion, a P/E ratio of 21.74, a PEG ratio of 0.72 and a beta of 0.64. The business has a 50 day moving average price of $6.15 and a 200 day moving average price of $6.49.

About Custom Truck One Source

Custom Truck One Source, Inc provides specialty equipment rental services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in North America. The company operates through three segments: Equipment Rental Solutions, Truck and Equipment Sales, and Aftermarket Parts and Services.