Brokerages Set Custom Truck One Source, Inc. (NYSE:CTOS) Price Target at $8.00

Custom Truck One Source, Inc. (NYSE:CTOS) has earned a consensus rating of “Hold” from the eight analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.00.

Several equities analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Custom Truck One Source in a research note on Tuesday. They issued an “overweight” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on 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. DA Davidson reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a research note on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Monday.

Custom Truck One Source Stock Up 3.7%

CTOS opened at $8.75 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26. The business has a 50 day simple moving average of $6.93 and a 200-day simple moving average of $6.45. The stock has a market capitalization of $1.98 billion, a P/E ratio of -58.30 and a beta of 1.12. Custom Truck One Source has a 12 month low of $3.77 and a 12 month high of $8.83.

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

Hedge Funds Weigh In On Custom Truck One Source

Hedge funds have recently bought and sold shares of the company. EFG Asset Management North America Corp. purchased a new position in Custom Truck One Source in the 3rd quarter valued at approximately $1,762,000. Canvas Wealth Advisors LLC increased its position in Custom Truck One Source by 48.5% during the fourth quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock worth $40,609,000 after buying an additional 2,303,504 shares in the last quarter. Portolan Capital Management LLC purchased a new position in Custom Truck One Source during the third quarter worth $4,167,000. Sapient Capital LLC purchased a new position in Custom Truck One Source during the third quarter worth $810,000. Finally, Citigroup Inc. increased its position in Custom Truck One Source by 320.8% during the third quarter. Citigroup Inc. now owns 399,321 shares of the company’s stock worth $2,564,000 after buying an additional 304,427 shares in the last quarter. 90.07% of the stock is owned by hedge funds and other institutional investors.

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.