Custom Truck One Source (NYSE:CTOS) Sets New 1-Year Low at $3.26

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.26 and last traded at $3.29, with a volume of 310870 shares traded. The stock had previously closed at $3.42.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Oppenheimer cut their target price on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus started coverage on Custom Truck One Source in a report on Friday, June 14th. They issued a “hold” rating and a $5.50 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.30.

Custom Truck One Source Stock Performance

The business’s fifty day moving average price is $4.33 and its two-hundred day moving average price is $4.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.20 and a current ratio of 1.30. The stock has a market capitalization of $840.91 million, a P/E ratio of 35.60 and a beta of 0.63.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The company had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $456.23 million. Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.51%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. As a group, sell-side analysts forecast that Custom Truck One Source, Inc. will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Heartland Advisors Inc. purchased a new position in Custom Truck One Source during the 1st quarter worth $2,456,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Custom Truck One Source by 190.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock valued at $21,466,000 after acquiring an additional 3,234,586 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Custom Truck One Source by 9.8% in the fourth quarter. M&T Bank Corp now owns 29,489 shares of the company’s stock valued at $183,000 after acquiring an additional 2,627 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Custom Truck One Source by 9.7% in the fourth quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock worth $184,000 after acquiring an additional 2,636 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Custom Truck One Source by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock worth $18,576,000 after acquiring an additional 80,740 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors.

About Custom Truck One Source

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).