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

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) hit 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. The stock had previously closed at $9.68.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. DA Davidson reissued a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a report on Tuesday, April 28th. Cantor Fitzgerald increased their price objective on 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 reissued a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday, April 20th. Capital One Financial set a $13.00 price objective on Custom Truck One Source in a report on Tuesday, May 26th. Finally, Oppenheimer reissued an “outperform” rating and issued a $11.00 price objective on shares of Custom Truck One Source in a report on Friday, May 1st. Four equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.14.

Custom Truck One Source Price Performance

The business has a 50-day moving average price of $8.58 and a 200 day moving average price of $7.15. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -115.00 and a beta of 1.37. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 2.02.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data on Monday, April 27th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $461.62 million during the quarter, compared to the consensus estimate of $452.67 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Custom Truck One Source, Inc. will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of Custom Truck One Source

Large investors have recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in Custom Truck One Source by 3,477.5% during 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. Canvas Wealth Advisors LLC grew its position in shares of Custom Truck One Source by 48.5% in the fourth quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock valued at $40,609,000 after purchasing an additional 2,303,504 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in shares of Custom Truck One Source in the third quarter valued at about $4,167,000. Citigroup Inc. grew its position in Custom Truck One Source by 320.8% during the third quarter. Citigroup Inc. now owns 399,321 shares of the company’s stock worth $2,564,000 after buying an additional 304,427 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in Custom Truck One Source by 38.7% during the third quarter. First Eagle Investment Management LLC now owns 774,436 shares of the company’s stock worth $4,972,000 after buying an additional 216,083 shares in the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.

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.