Custom Truck One Source (NYSE:CTOS) Sets New 12-Month Low After Earnings Miss

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price reached a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $3.84 and last traded at $4.04, with a volume of 1011581 shares traded. The stock had previously closed at $4.23.

The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $422.23 million for the quarter, compared to the consensus estimate of $435.19 million. Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTOS. Stifel Nicolaus dropped their target price on shares of Custom Truck One Source from $5.50 to $5.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Oppenheimer upped their price target on Custom Truck One Source from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Robert W. Baird lowered Custom Truck One Source from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Monday. Finally, Baird R W cut Custom Truck One Source from a “strong-buy” rating to a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Custom Truck One Source currently has an average rating of “Hold” and a consensus price target of $5.25.

Hedge Funds Weigh In On Custom Truck One Source

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTOS. T. Rowe Price Investment Management Inc. raised its position in Custom Truck One Source by 105.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,407,782 shares of the company’s stock valued at $35,632,000 after buying an additional 3,796,138 shares during the period. Canvas Wealth Advisors LLC raised its holdings in shares of Custom Truck One Source by 8.8% during the 1st quarter. Canvas Wealth Advisors LLC now owns 4,468,342 shares of the company’s stock valued at $17,158,000 after purchasing an additional 359,988 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Custom Truck One Source by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,307,058 shares of the company’s stock worth $18,090,000 after buying an additional 93,090 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Custom Truck One Source by 17.9% in the 4th quarter. Vanguard Group Inc. now owns 3,903,855 shares of the company’s stock worth $18,778,000 after purchasing an additional 592,571 shares during the last quarter. Finally, Boston Partners acquired a new position in Custom Truck One Source during the fourth quarter valued at approximately $18,268,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Stock Down 2.9 %

The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The firm has a market capitalization of $883.20 million, a price-to-earnings ratio of -24.46 and a beta of 0.83. The business’s 50 day moving average is $4.24 and its 200-day moving average is $4.63.

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).