Stock Traders Buy Large Volume of Custom Truck One Source Put Options (NYSE:CTOS)

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of unusually large options trading on Thursday. Investors acquired 2,765 put options on the company. This represents an increase of approximately 1,174% compared to the average volume of 217 put options.

Custom Truck One Source Price Performance

Shares of CTOS traded up $0.15 during mid-day trading on Thursday, reaching $6.15. 186,091 shares of the stock traded hands, compared to its average volume of 746,006. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -51.08 and a beta of 1.28. Custom Truck One Source has a 1 year low of $3.18 and a 1 year high of $6.78. The firm has a fifty day moving average price of $6.11 and a 200 day moving average price of $5.77. The company has a current ratio of 1.27, a quick ratio of 0.22 and a debt-to-equity ratio of 2.08.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Monday, October 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Custom Truck One Source had a negative return on equity of 5.28% and a negative net margin of 1.26%.The business had revenue of $482.06 million during the quarter, compared to analysts’ expectations of $492.12 million. During the same quarter last year, the business posted ($0.07) EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Custom Truck One Source will post -0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of Custom Truck One Source by 92.1% in the second quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock worth $29,000 after purchasing an additional 2,809 shares during the last quarter. Quantbot Technologies LP bought a new stake in Custom Truck One Source during the second quarter valued at approximately $35,000. Teza Capital Management LLC purchased a new position in Custom Truck One Source in the 1st quarter worth approximately $45,000. Jane Street Group LLC bought a new position in shares of Custom Truck One Source in the 2nd quarter worth $58,000. Finally, R Squared Ltd bought a new position in shares of Custom Truck One Source in the 2nd quarter worth $59,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Analysts Set New Price Targets

CTOS has been the subject of a number of recent analyst reports. Zacks Research upgraded Custom Truck One Source from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on shares of Custom Truck One Source from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Robert W. Baird set a $6.50 target price on shares of Custom Truck One Source in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Custom Truck One Source from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.13.

About Custom Truck One Source

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).