Custom Truck One Source, Inc. (NYSE:CTOS) Receives $7.40 Consensus Price Target from Brokerages

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) have received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.40.

Several research analysts have recently weighed in on the stock. DA Davidson restated a “buy” rating and issued a $8.50 target price on shares of Custom Truck One Source in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, March 11th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in Custom Truck One Source in the first quarter valued at about $71,000. AQR Capital Management LLC purchased a new stake in Custom Truck One Source during the 1st quarter worth approximately $63,000. Goldman Sachs Group Inc. increased its holdings in Custom Truck One Source by 223.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company’s stock worth $2,235,000 after purchasing an additional 365,862 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Custom Truck One Source by 9.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock valued at $157,000 after purchasing an additional 2,773 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Custom Truck One Source by 12.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,346,479 shares of the company’s stock valued at $6,653,000 after purchasing an additional 152,173 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Stock Performance

Shares of NYSE:CTOS opened at $6.46 on Friday. The business’s 50-day simple moving average is $6.67 and its 200 day simple moving average is $6.29. The company has a market cap of $1.46 billion, a P/E ratio of -43.03 and a beta of 1.14. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.26 and a current ratio of 1.33. Custom Truck One Source has a one year low of $3.18 and a one year high of $7.75.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Tuesday, March 10th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Custom Truck One Source had a negative return on equity of 3.88% and a negative net margin of 1.60%.The firm had revenue of $528.18 million during the quarter, compared to analysts’ expectations of $584.76 million. During the same quarter in the prior year, the business earned $0.12 EPS. Custom Truck One Source’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Custom Truck One Source will post -0.21 earnings per share for the current fiscal year.

About Custom Truck One Source

Custom Truck One Source, Inc (NYSE: CTOS) is a North American provider of specialty rental equipment, parts and services. The company’s fleet encompasses a wide range of assets, including cranes, aerial work platforms, trench safety and shoring equipment, fluid management solutions, generators and other industrial machinery. Customers rely on Custom Truck One Source to support projects in construction, energy, telecommunications, industrial manufacturing, municipalities and large-scale events.

Headquartered in Plano, Texas, Custom Truck One Source has expanded through a combination of organic growth and strategic acquisitions to establish a network of more than 140 branch locations across the United States and Canada.