Brokerages Set Custom Truck One Source, Inc. (NYSE:CTOS) Price Target at $8.50

Custom Truck One Source, Inc. (NYSE:CTOS) has been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $8.00.

A number of research analysts have recently commented on CTOS shares. JPMorgan Chase & Co. cut their target price on Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday. Robert W. Baird lowered their target price 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.

Custom Truck One Source Stock Performance

Shares of NYSE:CTOS opened at $4.17 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.41 and a debt-to-equity ratio of 1.62. Custom Truck One Source has a 52 week low of $3.61 and a 52 week high of $7.53. The firm has a fifty day simple moving average of $5.59 and a two-hundred day simple moving average of $5.94. The stock has a market capitalization of $1.00 billion, a P/E ratio of 41.70, a PEG ratio of 0.79 and a beta of 0.69.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $411.31 million for the quarter, compared to analysts’ expectations of $455.98 million. Custom Truck One Source had a net margin of 1.24% and a return on equity of 2.46%. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS. On average, analysts expect that Custom Truck One Source will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Canvas Wealth Advisors LLC raised its stake in shares of Custom Truck One Source by 2.2% during the 1st quarter. Canvas Wealth Advisors LLC now owns 3,487,228 shares of the company’s stock worth $20,296,000 after acquiring an additional 73,986 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Custom Truck One Source by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,251,103 shares of the company’s stock worth $20,157,000 after purchasing an additional 52,437 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Custom Truck One Source by 9.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,156,983 shares of the company’s stock valued at $13,373,000 after purchasing an additional 185,272 shares during the period. Clearbridge Investments LLC boosted its holdings in Custom Truck One Source by 3.9% during the fourth quarter. Clearbridge Investments LLC now owns 1,878,893 shares of the company’s stock worth $11,612,000 after buying an additional 70,005 shares in the last quarter. Finally, R.P. Boggs & Co. increased its stake in shares of Custom Truck One Source by 5.2% in the 3rd quarter. R.P. Boggs & Co. now owns 994,203 shares of the company’s stock valued at $6,164,000 after purchasing an additional 48,995 shares in the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

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).