Custom Truck One Source (NYSE:CTOS) Announces Earnings Results

Custom Truck One Source (NYSE:CTOS) posted its earnings results on Tuesday. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, FiscalAI reports. The company had revenue of $528.18 million for the quarter, compared to analysts’ expectations of $584.76 million. Custom Truck One Source had a negative net margin of 1.26% and a negative return on equity of 5.28%.

Custom Truck One Source Stock Performance

Shares of Custom Truck One Source stock opened at $6.41 on Tuesday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -53.38 and a beta of 1.14. 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 business has a 50-day moving average of $6.63 and a 200 day moving average of $6.27. Custom Truck One Source has a 12 month low of $3.18 and a 12 month high of $7.75.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTOS. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Wednesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of Custom Truck One Source from $6.00 to $6.50 and gave the stock an “underweight” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.25.

Institutional Trading of Custom Truck One Source

Several hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Custom Truck One Source in the first quarter valued at approximately $71,000. AQR Capital Management LLC acquired a new stake in Custom Truck One Source during the 1st quarter worth approximately $63,000. Goldman Sachs Group Inc. boosted its position in Custom Truck One Source by 223.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company’s stock valued at $2,235,000 after buying an additional 365,862 shares during the period. Envestnet Asset Management Inc. boosted its position in Custom Truck One Source by 9.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock valued at $157,000 after buying an additional 2,773 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Custom Truck One Source by 16.0% in the second quarter. JPMorgan Chase & Co. now owns 29,422 shares of the company’s stock worth $145,000 after acquiring an additional 4,058 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

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.