Custom Truck One Source (NYSE:CTOS) Receives “Buy” Rating from DA Davidson

Custom Truck One Source (NYSE:CTOS)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $13.00 price objective on the stock. DA Davidson’s target price indicates a potential upside of 47.71% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald increased their price target on Custom Truck One Source from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Zacks Research raised shares of Custom Truck One Source from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Capital One Financial set a $13.00 target price on shares of Custom Truck One Source in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Friday, July 17th. Finally, Robert W. Baird boosted their target price on shares of Custom Truck One Source from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Custom Truck One Source presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Custom Truck One Source Trading Down 0.1%

Custom Truck One Source stock opened at $8.80 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.34 and a quick ratio of 0.29. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 97.94 and a beta of 1.35. Custom Truck One Source has a one year low of $5.18 and a one year high of $12.23. The company’s fifty day moving average price is $10.02 and its two-hundred day moving average price is $9.13.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $563.45 million during the quarter, compared to analysts’ expectations of $509.76 million. Custom Truck One Source had a return on equity of 2.66% and a net margin of 1.05%.The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. On average, analysts forecast that Custom Truck One Source will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in Custom Truck One Source by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock valued at $36,806,000 after buying an additional 741,857 shares during the period. California State Teachers Retirement System grew its holdings in shares of Custom Truck One Source by 1,203.5% during the second quarter. California State Teachers Retirement System now owns 801,864 shares of the company’s stock worth $9,470,000 after purchasing an additional 740,350 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Custom Truck One Source by 154.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,056,550 shares of the company’s stock valued at $6,942,000 after buying an additional 642,109 shares in the last quarter. Heartland Advisors Inc. increased its position in Custom Truck One Source by 42.9% in the 1st quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the company’s stock valued at $6,570,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Custom Truck One Source during the second quarter worth approximately $1,842,000. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc is a specialty equipment provider serving the utility, telecommunications, rail, infrastructure, construction and forestry industries. The company offers equipment for sale, rental and lease, along with parts, maintenance, repair, transportation and other support services intended to help customers acquire and operate specialized fleet assets.

Its product portfolio includes new and used truck-mounted equipment, utility vehicles, cranes, aerial devices, digger derricks, rail equipment, trailers and other specialty vehicles.