Custom Truck One Source (NYSE:CTOS) Hits New 12-Month High – Here’s What Happened

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.18 and last traded at $10.0470, with a volume of 3416 shares. The stock had previously closed at $10.10.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTOS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Monday, April 20th. Oppenheimer restated an “outperform” rating and issued a $11.00 target price on shares of Custom Truck One Source in a research note on Friday. Stifel Nicolaus upped their price target on Custom Truck One Source from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Custom Truck One Source from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald initiated coverage on 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. Four 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’s stock. Based on data from MarketBeat, Custom Truck One Source currently has a consensus rating of “Hold” and an average price target of $9.33.

Custom Truck One Source Stock Performance

The company has a market capitalization of $2.25 billion, a P/E ratio of -110.52 and a beta of 1.40. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 2.02. The company’s fifty day moving average is $7.16 and its 200 day moving average is $6.57.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results on Monday, April 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities analysts anticipate that Custom Truck One Source, Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CTOS. Cubist Systematic Strategies LLC bought a new stake in shares of Custom Truck One Source during the first quarter valued at about $71,000. AQR Capital Management LLC purchased a new position in Custom Truck One Source during the first quarter valued at approximately $63,000. Goldman Sachs Group Inc. increased its holdings in Custom Truck One Source by 223.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company’s stock worth $2,235,000 after acquiring an additional 365,862 shares during the period. Envestnet Asset Management Inc. increased its holdings in Custom Truck One Source by 9.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock worth $157,000 after acquiring an additional 2,773 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Custom Truck One Source by 16.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,422 shares of the company’s stock worth $145,000 after purchasing an additional 4,058 shares in the last quarter. 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.