Custom Truck One Source (NYSE:CTOS) Reaches New 12-Month High – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price reached a new 52-week high on Monday . The stock traded as high as $10.18 and last traded at $10.0470, with a volume of 3416 shares trading hands. The stock had previously closed at $10.10.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their price target on shares of Custom Truck One Source from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, April 29th. Stifel Nicolaus increased their price target on shares of Custom Truck One Source from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald initiated coverage on shares of Custom Truck One Source in a research note on Tuesday, April 21st. They issued an “overweight” rating and a $11.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Custom Truck One Source in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Custom Truck One Source presently has an average rating of “Hold” and a consensus price target of $9.33.

Custom Truck One Source Price Performance

The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.25 and a current ratio of 1.30. The stock has a market cap of $2.19 billion, a PE ratio of -107.61 and a beta of 1.40. The stock’s 50-day moving average is $7.11 and its two-hundred day moving average is $6.54.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Monday, April 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $461.62 million during the quarter, compared to analysts’ expectations of $452.67 million. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) EPS. On average, equities analysts predict that Custom Truck One Source, Inc. will post 0.08 earnings per share 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 CTOS. Cubist Systematic Strategies LLC purchased a new position in shares of Custom Truck One Source during the 1st quarter worth approximately $71,000. AQR Capital Management LLC purchased a new position in Custom Truck One Source in the 1st quarter valued at approximately $63,000. Goldman Sachs Group Inc. raised its holdings in shares of 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 purchasing an additional 365,862 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 2,773 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Custom Truck One Source by 16.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,422 shares of the company’s stock valued at $145,000 after purchasing an additional 4,058 shares in the last quarter. 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 (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.