Custom Truck One Source (NYSE:CTOS) Price Target Raised to $13.00 at Cantor Fitzgerald

Custom Truck One Source (NYSE:CTOS) had its price target lifted by equities research analysts at Cantor Fitzgerald from $11.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 40.92% from the stock’s previous close.

Other analysts have also issued reports about the stock. Oppenheimer reiterated an “outperform” rating and issued a $11.00 price target on shares of Custom Truck One Source in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Custom Truck One Source from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 29th. Stifel Nicolaus lifted their price target on shares of Custom Truck One Source from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. DA Davidson reiterated a “buy” rating and issued a $8.50 price target on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.67.

Custom Truck One Source Stock Performance

Shares of CTOS stock opened at $9.23 on Tuesday. The company has a 50 day moving average price of $7.95 and a 200-day moving average price of $6.90. Custom Truck One Source has a 52 week low of $4.19 and a 52 week high of $10.22. The firm has a market capitalization of $2.09 billion, a PE ratio of -102.50 and a beta of 1.40. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 2.02.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Monday, April 27th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%. The firm had revenue of $461.62 million during the quarter, compared to analyst estimates of $452.67 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts expect that Custom Truck One Source will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On Custom Truck One Source

Several large investors have recently added to or reduced their stakes in CTOS. Canvas Wealth Advisors LLC lifted its holdings in Custom Truck One Source by 48.5% during the fourth quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock valued at $40,609,000 after purchasing an additional 2,303,504 shares in the last quarter. M&T Bank Corp lifted its holdings in Custom Truck One Source by 3,477.5% during the fourth quarter. M&T Bank Corp now owns 938,098 shares of the company’s stock valued at $5,403,000 after purchasing an additional 911,876 shares in the last quarter. First Trust Advisors LP lifted its holdings in Custom Truck One Source by 221.9% during the fourth quarter. First Trust Advisors LP now owns 1,222,875 shares of the company’s stock valued at $7,044,000 after purchasing an additional 842,964 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in Custom Truck One Source by 42.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock valued at $14,401,000 after purchasing an additional 750,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Custom Truck One Source by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock valued at $36,806,000 after purchasing an additional 741,857 shares in the last quarter. Hedge funds and other institutional investors own 90.07% of the company’s stock.

About Custom Truck One Source

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.