Stock Traders Buy Large Volume of Custom Truck One Source Put Options (NYSE:CTOS)

Custom Truck One Source, Inc. (NYSE:CTOS) was the target of unusually large options trading activity on Thursday. Stock investors acquired 2,765 put options on the company. This represents an increase of 1,174% compared to the typical daily volume of 217 put options.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Robert W. Baird set a $6.50 price objective on shares of Custom Truck One Source in a research report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on shares of Custom Truck One Source from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, October 14th. Zacks Research raised Custom Truck One Source from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus boosted their target price on Custom Truck One Source from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.13.

Custom Truck One Source Price Performance

Shares of CTOS stock traded up $0.15 on Thursday, hitting $6.15. 186,091 shares of the company’s stock were exchanged, compared to its average volume of 746,006. The stock has a market cap of $1.39 billion, a P/E ratio of -51.08 and a beta of 1.28. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 0.22. The company has a 50 day moving average of $6.11 and a 200 day moving average of $5.77. Custom Truck One Source has a 12 month low of $3.18 and a 12 month high of $6.78.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Monday, October 27th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Custom Truck One Source had a negative net margin of 1.26% and a negative return on equity of 5.28%. The company had revenue of $482.06 million during the quarter, compared to the consensus estimate of $492.12 million. During the same period in the previous year, the company earned ($0.07) EPS. Custom Truck One Source’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Custom Truck One Source will post -0.21 EPS for the current year.

Hedge Funds Weigh In On Custom Truck One Source

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in Custom Truck One Source by 92.1% in the second quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after buying an additional 2,809 shares during the period. Quantbot Technologies LP bought a new stake in shares of Custom Truck One Source during the second quarter valued at approximately $35,000. Teza Capital Management LLC bought a new position in shares of Custom Truck One Source in the first quarter valued at $45,000. Jane Street Group LLC bought a new position in Custom Truck One Source in the 2nd quarter valued at about $58,000. Finally, R Squared Ltd purchased a new position in shares of Custom Truck One Source during the second quarter valued at approximately $59,000. 90.07% of the stock is currently owned by institutional investors.

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).