Custom Truck One Source (NYSE:CTOS) Shares Up 6.4% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) shares shot up 6.4% during mid-day trading on Friday . The stock traded as high as $4.92 and last traded at $4.93. 123,144 shares were traded during trading, a decline of 81% from the average session volume of 642,855 shares. The stock had previously closed at $4.63.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer cut their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th.

Custom Truck One Source Stock Performance

The company has a market cap of $1.10 billion, a PE ratio of -29.47 and a beta of 0.79. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The firm’s 50 day moving average is $5.12 and its 200-day moving average is $4.40.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The company 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%. Custom Truck One Source’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 posted $0.04 EPS. On average, research analysts anticipate that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

A number of hedge funds have recently modified their holdings of the company. Black Diamond Financial LLC boosted its holdings in Custom Truck One Source by 906.8% in the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after purchasing an additional 1,285,265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Custom Truck One Source by 15.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock valued at $378,000 after acquiring an additional 14,906 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in Custom Truck One Source in the second quarter worth approximately $1,328,000. Maven Securities LTD acquired a new stake in Custom Truck One Source during the second quarter worth $2,175,000. Finally, FMR LLC raised its position in Custom Truck One Source by 1,234.8% in the third quarter. FMR LLC now owns 28,846 shares of the company’s stock valued at $100,000 after purchasing an additional 26,685 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

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).