Custom Truck One Source (NYSE:CTOS) Shares Gap Down – What’s Next?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) gapped down before the market opened on Tuesday . The stock had previously closed at $6.38, but opened at $5.86. Custom Truck One Source shares last traded at $5.7550, with a volume of 366,106 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CTOS shares. JPMorgan Chase & Co. boosted their price objective on Custom Truck One Source from $6.00 to $6.50 and gave the company an “underweight” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.25.

Custom Truck One Source Trading Down 10.9%

The business’s 50-day moving average is $6.63 and its 200 day moving average is $6.27. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 0.22. The firm has a market capitalization of $1.29 billion, a P/E ratio of -47.38 and a beta of 1.14.

Custom Truck One Source (NYSE:CTOS) last released its earnings results on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Custom Truck One Source had a negative net margin of 1.26% and a negative return on equity of 5.28%. The firm had revenue of $528.18 million for the quarter, compared to analyst estimates of $584.76 million. During the same period last year, the firm earned $0.12 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts anticipate that Custom Truck One Source, Inc. will post -0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

Hedge funds have recently modified their holdings of the business. Canvas Wealth Advisors LLC raised its stake 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 worth $40,609,000 after buying an additional 2,303,504 shares during the last quarter. Boston Partners grew its holdings in shares of Custom Truck One Source by 71.5% in the second quarter. Boston Partners now owns 5,433,075 shares of the company’s stock valued at $26,849,000 after acquiring an additional 2,264,366 shares in the last quarter. M&T Bank Corp increased its position in 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 worth $5,403,000 after buying an additional 911,876 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Custom Truck One Source by 221.9% during the 4th 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 during the period. Finally, Alyeska Investment Group L.P. lifted its stake in Custom Truck One Source by 42.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock worth $14,401,000 after purchasing an additional 750,000 shares in the last quarter. Institutional investors and hedge funds 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.