Custom Truck One Source’s (CTOS) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Custom Truck One Source (NYSE:CTOS) in a report released on Wednesday,Benzinga reports. DA Davidson currently has a $8.50 price target on the stock.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Custom Truck One Source from $6.00 to $6.50 and gave the stock an “underweight” rating in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.40.

Custom Truck One Source Price Performance

Custom Truck One Source stock opened at $5.86 on Wednesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.22. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -39.03 and a beta of 1.14. The firm has a 50-day moving average of $6.64 and a two-hundred day moving average of $6.26. Custom Truck One Source has a 1 year low of $3.18 and a 1 year high of $7.75.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. The business had revenue of $528.18 million for the quarter, compared to analyst estimates of $584.76 million. During the same period last year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts forecast that Custom Truck One Source will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

Hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its stake in shares of Custom Truck One Source by 9.0% during the fourth quarter. Invesco Ltd. now owns 236,927 shares of the company’s stock valued at $1,365,000 after purchasing an additional 19,660 shares in the last quarter. Empowered Funds LLC raised its stake in Custom Truck One Source by 130.1% in the fourth quarter. Empowered Funds LLC now owns 737,180 shares of the company’s stock worth $4,246,000 after buying an additional 416,833 shares in the last quarter. nVerses Capital LLC purchased a new stake in Custom Truck One Source during the fourth quarter worth $232,000. Oxford Asset Management LLP purchased a new stake in Custom Truck One Source during the fourth quarter worth $138,000. Finally, Millennium Management LLC bought a new stake in Custom Truck One Source during the 4th quarter valued at $1,831,000. Hedge funds and other institutional investors 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.