Custom Truck One Source (NYSE:CTOS) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Custom Truck One Source (NYSE:CTOS) released its earnings results on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, FiscalAI reports. Custom Truck One Source had a negative return on equity of 5.28% and a negative net margin of 1.26%.The firm had revenue of $528.18 million during the quarter, compared to analyst estimates of $584.76 million.

Custom Truck One Source Price Performance

Shares of CTOS opened at $6.41 on Tuesday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -53.38 and a beta of 1.14. The firm’s fifty day simple moving average is $6.63 and its 200-day simple moving average is $6.27. Custom Truck One Source has a twelve month low of $3.18 and a twelve month high of $7.75. The company has a current ratio of 1.27, a quick ratio of 0.22 and a debt-to-equity ratio of 2.08.

Hedge Funds Weigh In On Custom Truck One Source

Large investors have recently bought and sold shares of the business. 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 worth $7,044,000 after acquiring an additional 842,964 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Custom Truck One Source by 42.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock valued at $14,401,000 after purchasing an additional 750,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Custom Truck One Source by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,860,981 shares of the company’s stock valued at $28,000,000 after purchasing an additional 464,819 shares in the last quarter. Bank of America Corp DE increased its stake in Custom Truck One Source by 32.6% in the third quarter. Bank of America Corp DE now owns 1,794,530 shares of the company’s stock valued at $11,521,000 after purchasing an additional 441,257 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Custom Truck One Source by 130.1% during the fourth quarter. Empowered Funds LLC now owns 737,180 shares of the company’s stock worth $4,246,000 after purchasing an additional 416,833 shares in the last quarter. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Wall Street Analysts Forecast Growth

CTOS has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on Custom Truck One Source from $6.00 to $6.50 and gave the stock an “underweight” rating in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Custom Truck One Source currently has a consensus rating of “Hold” and a consensus price target of $7.25.

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.