Custom Truck One Source (NYSE:CTOS) Trading Up 8.8% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) traded up 8.8% on Friday . The company traded as high as $4.25 and last traded at $4.26. 69,744 shares were traded during trading, a decline of 91% from the average session volume of 807,973 shares. The stock had previously closed at $3.91.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CTOS shares. Oppenheimer upped their target price on shares of Custom Truck One Source from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price objective 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. Robert W. Baird downgraded shares of Custom Truck One Source from an “outperform” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Monday, April 28th. Finally, Baird R W cut Custom Truck One Source from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Custom Truck One Source has a consensus rating of “Hold” and an average target price of $5.25.

Custom Truck One Source Stock Up 4.9 %

The business’s fifty day moving average is $4.23 and its two-hundred day moving average is $4.65. The stock has a market cap of $925.17 million, a price-to-earnings ratio of -25.63 and a beta of 0.83. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The business had revenue of $422.23 million during the quarter, compared to analyst estimates of $435.19 million. During the same quarter last year, the firm earned ($0.06) EPS. The business’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Custom Truck One Source by 939.4% in the third quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock worth $1,699,000 after acquiring an additional 445,038 shares during the last quarter. Canvas Wealth Advisors LLC raised its holdings in shares of Custom Truck One Source by 8.0% in the 4th quarter. Canvas Wealth Advisors LLC now owns 4,108,354 shares of the company’s stock valued at $19,761,000 after purchasing an additional 303,744 shares in the last quarter. Boston Partners purchased a new stake in shares of Custom Truck One Source during the 4th quarter worth $18,268,000. Barclays PLC grew its stake in shares of Custom Truck One Source by 349.6% during the third quarter. Barclays PLC now owns 84,526 shares of the company’s stock worth $291,000 after purchasing an additional 65,725 shares in the last quarter. Finally, Heartland Advisors Inc. increased its holdings in Custom Truck One Source by 26.3% in the fourth quarter. Heartland Advisors Inc. now owns 1,200,000 shares of the company’s stock valued at $5,772,000 after buying an additional 250,000 shares during the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.

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).