Custom Truck One Source (NYSE:CTOS) Sets New 1-Year High – Here’s What Happened

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $10.24 and last traded at $10.1670, with a volume of 493220 shares changing hands. The stock had previously closed at $9.68.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CTOS shares. Oppenheimer reissued an “outperform” rating and set a $11.00 price target on shares of Custom Truck One Source in a research report on Friday, May 1st. Stifel Nicolaus boosted their price target on Custom Truck One Source from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Capital One Financial set a $13.00 price objective on Custom Truck One Source in a report on Tuesday, May 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Monday, April 20th. Finally, DA Davidson restated a “buy” rating and set a $8.50 target price on shares of Custom Truck One Source in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.14.

Custom Truck One Source Price Performance

The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 2.02. The firm has a market cap of $2.37 billion, a P/E ratio of -116.33 and a beta of 1.37. The business has a fifty day moving average of $8.73 and a 200 day moving average of $7.22.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Monday, April 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Custom Truck One Source had a negative return on equity of 2.18% and a negative net margin of 0.88%.The firm had revenue of $461.62 million for the quarter, compared to analyst estimates of $452.67 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Custom Truck One Source, Inc. will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp raised its position in shares of Custom Truck One Source by 3,477.5% in 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 during the period. Canvas Wealth Advisors LLC lifted its stake in shares of Custom Truck One Source by 48.5% during the 4th quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock worth $40,609,000 after buying an additional 2,303,504 shares during the last quarter. Portolan Capital Management LLC bought a new stake in shares of Custom Truck One Source during the 3rd quarter worth about $4,167,000. Citigroup Inc. grew its stake in Custom Truck One Source by 320.8% in the 3rd quarter. Citigroup Inc. now owns 399,321 shares of the company’s stock valued at $2,564,000 after buying an additional 304,427 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Custom Truck One Source by 38.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 774,436 shares of the company’s stock valued at $4,972,000 after buying an additional 216,083 shares during 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.