Allspring Global Investments Holdings LLC Lowers Position in Custom Truck One Source, Inc. $CTOS

Allspring Global Investments Holdings LLC lessened its stake in Custom Truck One Source, Inc. (NYSE:CTOS) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,914,133 shares of the company’s stock after selling 287,281 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.73% of Custom Truck One Source worth $25,912,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in Custom Truck One Source during the 1st quarter worth $71,000. AQR Capital Management LLC purchased a new stake in shares of Custom Truck One Source in the first quarter valued at about $63,000. Goldman Sachs Group Inc. lifted its position in shares of Custom Truck One Source by 223.5% during the first quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company’s stock valued at $2,235,000 after purchasing an additional 365,862 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of 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 valued at $157,000 after purchasing an additional 2,773 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Custom Truck One Source by 16.0% during the second quarter. JPMorgan Chase & Co. now owns 29,422 shares of the company’s stock worth $145,000 after purchasing an additional 4,058 shares during the last quarter. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and set a $8.50 price target on shares of Custom Truck One Source in a research report on Tuesday, April 28th. JPMorgan Chase & Co. raised their target price on Custom Truck One Source from $6.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating and set a $11.00 target price on shares of Custom Truck One Source in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Friday. Finally, Stifel Nicolaus raised their price objective on shares of Custom Truck One Source from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.14.

Custom Truck One Source Stock Down 0.8%

Shares of NYSE CTOS opened at $10.26 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.30 and a quick ratio of 0.25. The stock has a market capitalization of $2.32 billion, a PE ratio of -113.94 and a beta of 1.34. Custom Truck One Source, Inc. has a one year low of $5.18 and a one year high of $12.23. The business’s fifty day moving average price is $10.32 and its 200-day moving average price is $8.18.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data on Monday, April 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $461.62 million during the quarter, compared to analyst estimates of $452.67 million. Custom Truck One Source had a negative return on equity of 2.18% and a negative net margin of 0.88%.The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. On average, equities research analysts anticipate that Custom Truck One Source, Inc. will post 0.11 EPS for the current 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.