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

Custom Truck One Source, Inc. (NYSE:CTOS) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $10.22 and last traded at $10.1050, with a volume of 552452 shares. The stock had previously closed at $9.92.

Wall Street Analyst Weigh In

Several research firms recently commented on CTOS. DA Davidson reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a report on Tuesday, April 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Custom Truck One Source in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday, April 20th. Cantor Fitzgerald began coverage on shares of Custom Truck One Source in a report on Tuesday, April 21st. They issued an “overweight” rating and a $11.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Custom Truck One Source from $6.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Custom Truck One Source currently has a consensus rating of “Hold” and an average target price of $9.33.

Custom Truck One Source Stock Down 2.6%

The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.25 and a current ratio of 1.30. The firm has a market capitalization of $2.23 billion, a PE ratio of -109.17 and a beta of 1.40. The company’s 50 day simple moving average is $7.58 and its 200-day simple moving average is $6.76.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Monday, April 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $461.62 million for the quarter, compared to analysts’ expectations of $452.67 million. During the same period in the prior year, the company posted ($0.08) EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts forecast that Custom Truck One Source, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Trading of Custom Truck One Source

Several institutional investors and hedge funds have recently bought and sold shares of CTOS. Canvas Wealth Advisors LLC lifted its stake in Custom Truck One Source by 48.5% in the 4th quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock worth $40,609,000 after purchasing an additional 2,303,504 shares in the last quarter. M&T Bank Corp raised its position in shares of Custom Truck One Source by 3,477.5% during the 4th quarter. M&T Bank Corp now owns 938,098 shares of the company’s stock valued at $5,403,000 after buying an additional 911,876 shares in the last quarter. First Trust Advisors LP raised its position 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 buying an additional 842,964 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Custom Truck One Source by 42.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock valued at $14,401,000 after buying an additional 750,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Custom Truck One Source by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock valued at $36,806,000 after buying an additional 741,857 shares in the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

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.