Custom Truck One Source (NYSE:CTOS) Stock Price Up 8.6% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) shares traded up 8.6% during trading on Friday . The stock traded as high as $5.71 and last traded at $5.70. 634,080 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 603,000 shares. The stock had previously closed at $5.25.

Analyst Ratings Changes

Separately, Oppenheimer dropped their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.63.

Custom Truck One Source Trading Up 9.0 %

The business’s 50-day simple moving average is $3.95 and its 200-day simple moving average is $4.25. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. The company has a market cap of $1.34 billion, a PE ratio of -35.75 and a beta of 0.61.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The firm had revenue of $447.22 million for the quarter, compared to analyst estimates of $448.46 million. During the same period in the previous year, the business posted $0.04 EPS. Custom Truck One Source’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts expect that Custom Truck One Source, Inc. will post -0.21 EPS for the current fiscal year.

Insider Activity at Custom Truck One Source

In other Custom Truck One Source news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the completion of the sale, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Energy Capital Partners Manage sold 18,640 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total value of $77,728.80. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Custom Truck One Source

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Custom Truck One Source during the 2nd quarter worth about $47,000. Cetera Advisors LLC acquired a new position in shares of Custom Truck One Source during the first quarter worth approximately $68,000. Intech Investment Management LLC bought a new stake in shares of Custom Truck One Source in the third quarter valued at approximately $56,000. Price T Rowe Associates Inc. MD boosted its position in shares of Custom Truck One Source by 21.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock valued at $96,000 after acquiring an additional 2,882 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Custom Truck One Source in the third quarter worth $64,000. 90.07% of the stock is currently owned by institutional investors.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).