20,000 Shares in Custom Truck One Source, Inc. (NYSE:CTOS) Bought by First Merchants Corp

First Merchants Corp purchased a new stake in shares of Custom Truck One Source, Inc. (NYSE:CTOS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $87,000.

A number of other large investors have also added to or reduced their stakes in the company. Heartland Advisors Inc. bought a new stake in shares of Custom Truck One Source during the 1st quarter valued at about $2,456,000. M&T Bank Corp lifted its holdings in Custom Truck One Source by 9.8% in the fourth quarter. M&T Bank Corp now owns 29,489 shares of the company’s stock worth $183,000 after buying an additional 2,627 shares during the period. Quadrature Capital Ltd boosted its position in Custom Truck One Source by 9.7% during the 4th quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock valued at $184,000 after acquiring an additional 2,636 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Custom Truck One Source by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock worth $18,576,000 after acquiring an additional 80,740 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of Custom Truck One Source in the 1st quarter valued at approximately $68,000. Institutional investors own 90.07% of the company’s stock.

Insider Transactions at Custom Truck One Source

In other Custom Truck One Source news, insider Thomas R. Rich purchased 26,200 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $3.84 per share, for a total transaction of $100,608.00. Following the purchase, the insider now owns 224,778 shares of the company’s stock, valued at approximately $863,147.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CTOS shares. Oppenheimer reduced their price target on Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus began coverage on shares of Custom Truck One Source in a research report on Friday, June 14th. They set a “hold” rating and a $5.50 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Robert W. Baird decreased their target price on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.30.

Custom Truck One Source Stock Up 2.7 %

CTOS stock traded up $0.12 during midday trading on Friday, hitting $4.50. The company’s stock had a trading volume of 1,033,145 shares, compared to its average volume of 600,770. The company has a market cap of $1.08 billion, a PE ratio of 45.00 and a beta of 0.70. The firm’s 50-day moving average is $4.46 and its 200-day moving average is $5.09. Custom Truck One Source, Inc. has a 12 month low of $3.61 and a 12 month high of $7.00. The company has a current ratio of 1.34, a quick ratio of 0.22 and a debt-to-equity ratio of 1.66.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.49%. The business had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $456.23 million. During the same period last year, the business earned $0.05 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, equities research analysts forecast that Custom Truck One Source, Inc. will post 0.12 earnings per share for the current fiscal year.

Custom Truck One Source 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).