Custom Truck One Source (NYSE:CTOS) Coverage Initiated at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald started coverage on shares of Custom Truck One Source (NYSE:CTOS) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating on the stock.

Several other analysts have also recently weighed in on CTOS. JPMorgan Chase & Co. dropped their price target on shares of Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday. Finally, DA Davidson reiterated a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a report on Wednesday, March 11th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Custom Truck One Source currently has a consensus rating of “Hold” and an average price target of $8.00.

Custom Truck One Source Trading Up 0.5%

Shares of Custom Truck One Source stock opened at $8.41 on Tuesday. The stock has a market cap of $1.91 billion, a P/E ratio of -56.09 and a beta of 1.12. The stock’s 50 day simple moving average is $6.89 and its 200-day simple moving average is $6.43. Custom Truck One Source has a 1-year low of $3.77 and a 1-year high of $8.65. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Tuesday, March 10th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. The firm had revenue of $528.18 million during the quarter, compared to analysts’ expectations of $584.76 million. During the same period last year, the business earned $0.12 earnings per share. Custom Truck One Source’s revenue was up 1.4% compared to the same quarter last year. Analysts predict that Custom Truck One Source will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its holdings in Custom Truck One Source by 7.6% in the second quarter. M&T Bank Corp now owns 26,222 shares of the company’s stock valued at $130,000 after acquiring an additional 1,848 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Custom Truck One Source by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company’s stock valued at $185,000 after acquiring an additional 2,371 shares during the last quarter. Stoneridge Investment Partners LLC lifted its holdings in Custom Truck One Source by 8.2% in the third quarter. Stoneridge Investment Partners LLC now owns 32,813 shares of the company’s stock valued at $211,000 after acquiring an additional 2,478 shares during the last quarter. Legal & General Group Plc lifted its stake in Custom Truck One Source by 4.6% during the third quarter. Legal & General Group Plc now owns 60,973 shares of the company’s stock worth $391,000 after purchasing an additional 2,692 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Custom Truck One Source by 9.5% during the second quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock worth $157,000 after purchasing an additional 2,773 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

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.