Custom Truck One Source (NYSE:CTOS) Sets New 12-Month High – Here’s What Happened

Custom Truck One Source, Inc. (NYSE:CTOS) shares hit a new 52-week high on Monday . The stock traded as high as $11.38 and last traded at $11.3570, with a volume of 2381 shares trading hands. The stock had previously closed at $11.27.

Wall Street Analysts Forecast Growth

Several analysts have commented on CTOS shares. DA Davidson reissued a “buy” rating and issued a $8.50 target price on shares of Custom Truck One Source in a research report on Tuesday, April 28th. Stifel Nicolaus lifted their price objective 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 upped their price objective on shares of Custom Truck One Source from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. lifted 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 report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.14.

Custom Truck One Source Trading Up 0.3%

The company has a market capitalization of $2.56 billion, a P/E ratio of -125.56 and a beta of 1.37. The company has a 50-day simple moving average of $9.39 and a 200 day simple moving average of $7.49. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.25 and a current ratio of 1.30.

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, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $461.62 million during the quarter, compared to analysts’ expectations of $452.67 million. Custom Truck One Source had a negative return on equity of 2.18% and a negative net margin of 0.88%.Custom Truck One Source’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. Sell-side analysts expect that Custom Truck One Source, Inc. will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new position in shares of Custom Truck One Source during the fourth quarter valued at about $28,000. BNP Paribas Financial Markets grew its position in Custom Truck One Source by 92.1% during the second quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock worth $29,000 after buying an additional 2,809 shares in the last quarter. Quantbot Technologies LP bought a new position in Custom Truck One Source during the second quarter valued at about $35,000. Oak Thistle LLC acquired a new position in Custom Truck One Source in the 4th quarter valued at approximately $58,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Custom Truck One Source in the 4th quarter valued at approximately $67,000. 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.