Custom Truck One Source (NYSE:CTOS) Shares Down 5.5% – Here’s What Happened

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price was down 5.5% during mid-day trading on Monday . The stock traded as low as $4.66 and last traded at $4.66. Approximately 79,487 shares were traded during trading, a decline of 87% from the average daily volume of 608,852 shares. The stock had previously closed at $4.93.

Analyst Ratings Changes

Separately, Oppenheimer decreased their price objective on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.63.

Custom Truck One Source Price Performance

The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. The company’s fifty day moving average price is $4.75 and its two-hundred day moving average price is $4.37. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -29.25 and a beta of 0.78.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The firm had revenue of $447.22 million during the quarter, compared to analyst estimates of $448.46 million. Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. On average, equities research analysts forecast that Custom Truck One Source, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Trading of Custom Truck One Source

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in Custom Truck One Source by 190.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after buying an additional 3,234,586 shares during the last quarter. Black Diamond Financial LLC increased its stake in shares of Custom Truck One Source by 906.8% during the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after purchasing an additional 1,285,265 shares during the last quarter. Maven Securities LTD bought a new stake in shares of Custom Truck One Source in the 2nd quarter valued at about $2,175,000. Dimensional Fund Advisors LP lifted its stake in Custom Truck One Source by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after purchasing an additional 410,895 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new position in Custom Truck One Source during the second quarter worth about $1,328,000. 90.07% of the stock is currently owned by institutional investors and hedge funds.

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).