Custom Truck One Source, Inc. (NYSE:CTOS) Short Interest Update

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 3,530,000 shares, an increase of 11.7% from the May 15th total of 3,160,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 709,200 shares, the days-to-cover ratio is currently 5.0 days.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CTOS shares. Robert W. Baird reduced their price objective on Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Oppenheimer reduced their price target on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. lowered their price objective on shares of Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Stifel Nicolaus started coverage on shares of Custom Truck One Source in a research note on Friday. They set a “hold” rating and a $5.50 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Custom Truck One Source has an average rating of “Moderate Buy” and a consensus price target of $7.42.

Insider Buying and Selling at Custom Truck One Source

In related news, CEO Ryan Mcmonagle purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $4.04 per share, with a total value of $40,400.00. Following the completion of the transaction, the chief executive officer now owns 496,587 shares of the company’s stock, valued at $2,006,211.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Marshall Heinberg acquired 40,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $4.07 per share, for a total transaction of $162,800.00. Following the completion of the purchase, the director now directly owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcmonagle bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average price of $4.04 per share, with a total value of $40,400.00. Following the transaction, the chief executive officer now owns 496,587 shares in the company, valued at approximately $2,006,211.48. The disclosure for this purchase can be found here. Insiders acquired a total of 73,000 shares of company stock worth $293,560 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Custom Truck One Source

Several large investors have recently added to or reduced their stakes in CTOS. DekaBank Deutsche Girozentrale acquired a new position in Custom Truck One Source during the 3rd quarter worth $31,000. Koshinski Asset Management Inc. acquired a new stake in Custom Truck One Source in the first quarter worth about $58,000. Cetera Advisors LLC bought a new position in Custom Truck One Source in the 1st quarter valued at about $68,000. MQS Management LLC bought a new position in Custom Truck One Source in the 1st quarter valued at about $75,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Custom Truck One Source during the 3rd quarter valued at about $89,000. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Stock Performance

Shares of CTOS traded down $0.31 during midday trading on Friday, hitting $4.27. 983,644 shares of the stock traded hands, compared to its average volume of 540,145. The business’s 50 day moving average price is $4.85 and its two-hundred day moving average price is $5.72. The firm has a market capitalization of $1.03 billion, a PE ratio of 42.70 and a beta of 0.70. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.22 and a current ratio of 1.34. Custom Truck One Source has a 1-year low of $3.61 and a 1-year high of $7.53.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Thursday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Custom Truck One Source had a net margin of 1.24% and a return on equity of 2.48%. The firm had revenue of $411.31 million for the quarter, compared to analyst estimates of $455.98 million. During the same period in the previous year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts predict that Custom Truck One Source will post 0.15 EPS 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).