Custom Truck One Source (NYSE:CTOS) Sets New 52-Week Low on Disappointing Earnings

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.61 and last traded at $4.08, with a volume of 764179 shares trading hands. The stock had previously closed at $4.90.

The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Custom Truck One Source had a return on equity of 5.55% and a net margin of 2.72%. The company had revenue of $411.31 million for the quarter, compared to analysts’ expectations of $455.98 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTOS. Robert W. Baird decreased their price target on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their price target on shares of Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Custom Truck One Source has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. M&T Bank Corp grew its position in shares of Custom Truck One Source by 9.8% during the 4th quarter. M&T Bank Corp now owns 29,489 shares of the company’s stock valued at $183,000 after purchasing an additional 2,627 shares in the last quarter. Quadrature Capital Ltd grew its position in shares of Custom Truck One Source by 9.7% during the 4th quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock valued at $184,000 after purchasing an additional 2,636 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its position in shares of Custom Truck One Source by 28.5% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 22,270 shares of the company’s stock valued at $138,000 after purchasing an additional 4,934 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Custom Truck One Source during the 3rd quarter valued at $31,000. Finally, Bank of New York Mellon Corp grew its position in shares of Custom Truck One Source by 3.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 229,823 shares of the company’s stock valued at $1,425,000 after purchasing an additional 7,299 shares in the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Custom Truck One Source Price Performance

The company has a current ratio of 1.41, a quick ratio of 0.31 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $1.00 billion, a P/E ratio of 18.96, a P/E/G ratio of 0.91 and a beta of 0.69. The business’s fifty day moving average price is $5.64 and its 200-day moving average price is $5.96.

Custom Truck One Source Company Profile

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