Custom Truck One Source, Inc. (NYSE:CTOS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Custom Truck One Source, Inc. (NYSE:CTOS) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.30.

Several research firms have issued reports on CTOS. Oppenheimer dropped their price target on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus began coverage on shares of Custom Truck One Source in a research report on Friday, June 14th. They set a “hold” rating and a $5.50 price target on the stock.

Custom Truck One Source Stock Performance

Shares of CTOS stock opened at $3.40 on Thursday. The company’s fifty day simple moving average is $4.37 and its 200-day simple moving average is $4.86. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 1.78. The firm has a market cap of $803.11 million, a PE ratio of 34.00 and a beta of 0.63. Custom Truck One Source has a 12 month low of $3.37 and a 12 month high of $7.00.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Custom Truck One Source had a negative return on equity of 1.51% and a negative net margin of 0.75%. The business had revenue of $423.00 million during the quarter, compared to the consensus estimate of $456.23 million. During the same period in the prior year, the firm earned $0.05 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities research analysts expect that Custom Truck One Source will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Custom Truck One Source

In other Custom Truck One Source news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $3.42, for a total value of $8,051,052.78. Following the transaction, the insider now directly owns 23,384,879 shares in the company, valued at $79,976,286.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $3.42, for a total value of $8,051,052.78. Following the transaction, the insider now directly owns 23,384,879 shares in the company, valued at $79,976,286.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas R. Rich purchased 26,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $3.84 per share, for a total transaction of $100,608.00. Following the completion of the purchase, the insider now directly owns 224,778 shares of the company’s stock, valued at approximately $863,147.52. The disclosure for this purchase can be found here. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently modified their holdings of the business. Heartland Advisors Inc. acquired a new stake in Custom Truck One Source during the first quarter worth about $2,456,000. Allspring Global Investments Holdings LLC grew its stake in Custom Truck One Source by 190.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after buying an additional 3,234,586 shares in the last quarter. M&T Bank Corp grew its stake in Custom Truck One Source by 9.8% during the fourth quarter. M&T Bank Corp now owns 29,489 shares of the company’s stock worth $183,000 after buying an additional 2,627 shares in the last quarter. Quadrature Capital Ltd grew its stake in Custom Truck One Source by 9.7% during the fourth quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock worth $184,000 after buying an additional 2,636 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Custom Truck One Source by 2.6% during the first quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock worth $18,576,000 after buying an additional 80,740 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

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).