Oppenheimer Forecasts Strong Price Appreciation for Custom Truck One Source (NYSE:CTOS) Stock

Custom Truck One Source (NYSE:CTOS) had its target price lifted by Oppenheimer from $6.00 to $8.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 33.78% from the stock’s previous close.

Several other equities research analysts have also recently commented on CTOS. Robert W. Baird cut Custom Truck One Source from an “outperform” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Monday, April 28th. Baird R W downgraded shares of Custom Truck One Source from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Stifel Nicolaus set a $7.00 price target on shares of Custom Truck One Source and gave the stock a “buy” rating in a research note on Tuesday, July 15th.

Custom Truck One Source Trading Down 0.3%

NYSE CTOS opened at $5.98 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.23 and a debt-to-equity ratio of 2.01. Custom Truck One Source has a 1-year low of $3.03 and a 1-year high of $6.64. The firm’s fifty day simple moving average is $5.14 and its 200-day simple moving average is $4.72. The company has a market capitalization of $1.35 billion, a PE ratio of -37.38 and a beta of 1.27.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results on Wednesday, July 30th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.08). Custom Truck One Source had a negative net margin of 1.89% and a negative return on equity of 6.61%. The firm had revenue of $511.48 million during the quarter, compared to analysts’ expectations of $460.73 million. During the same quarter last year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Custom Truck One Source will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of Custom Truck One Source

Several large investors have recently made changes to their positions in CTOS. BNP Paribas Financial Markets bought a new position in Custom Truck One Source in the 4th quarter worth $29,000. Teacher Retirement System of Texas bought a new stake in Custom Truck One Source during the first quarter valued at about $43,000. Teza Capital Management LLC acquired a new stake in shares of Custom Truck One Source in the first quarter valued at about $45,000. KLP Kapitalforvaltning AS bought a new position in shares of Custom Truck One Source in the fourth quarter worth about $56,000. Finally, R Squared Ltd bought a new position in shares of Custom Truck One Source in the second quarter worth about $59,000. Institutional investors own 90.07% of the company’s stock.

About Custom Truck One Source

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).