Geode Capital Management LLC Acquires 152,173 Shares of Custom Truck One Source, Inc. $CTOS

Geode Capital Management LLC boosted its stake in Custom Truck One Source, Inc. (NYSE:CTOS) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,346,479 shares of the company’s stock after purchasing an additional 152,173 shares during the period. Geode Capital Management LLC owned about 0.60% of Custom Truck One Source worth $6,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of Custom Truck One Source by 4.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 7,724,424 shares of the company’s stock valued at $32,598,000 after buying an additional 316,642 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Custom Truck One Source by 45.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,305,702 shares of the company’s stock valued at $22,391,000 after acquiring an additional 1,645,798 shares during the last quarter. Canvas Wealth Advisors LLC increased its position in Custom Truck One Source by 6.5% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 4,760,683 shares of the company’s stock valued at $23,518,000 after purchasing an additional 292,341 shares during the period. Boston Partners raised its holdings in Custom Truck One Source by 19.6% during the 2nd quarter. Boston Partners now owns 3,789,629 shares of the company’s stock worth $18,731,000 after purchasing an additional 620,920 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in shares of Custom Truck One Source by 2.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,013,660 shares of the company’s stock worth $8,498,000 after purchasing an additional 56,630 shares during the period. 90.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTOS has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Custom Truck One Source from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Robert W. Baird set a $6.50 price target on Custom Truck One Source in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, October 8th. Stifel Nicolaus upped their target price on Custom Truck One Source from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Zacks Research upgraded Custom Truck One Source from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Custom Truck One Source currently has a consensus rating of “Hold” and an average target price of $7.13.

Custom Truck One Source Stock Performance

Shares of Custom Truck One Source stock opened at $6.09 on Friday. The business has a 50-day simple moving average of $6.15 and a 200 day simple moving average of $5.66. Custom Truck One Source, Inc. has a one year low of $3.18 and a one year high of $6.78. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 0.22. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -50.71 and a beta of 1.28.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Monday, October 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Custom Truck One Source had a negative return on equity of 5.28% and a negative net margin of 1.26%.The firm had revenue of $482.06 million during the quarter, compared to the consensus estimate of $492.12 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, research analysts anticipate that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

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).