Custom Truck One Source (NYSE:CTOS) Trading Down 5.2% – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) shares fell 5.2% during mid-day trading on Thursday . The stock traded as low as $6.12 and last traded at $6.1150. 146,920 shares traded hands during trading, a decline of 80% from the average session volume of 747,557 shares. The stock had previously closed at $6.45.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTOS shares. Zacks Research raised shares of Custom Truck One Source from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Custom Truck One Source from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, October 14th. Stifel Nicolaus upped their target price on shares of Custom Truck One Source from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Robert W. Baird set a $6.50 price target on Custom Truck One Source in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Custom Truck One Source presently has a consensus rating of “Hold” and a consensus target price of $7.13.

Custom Truck One Source Price Performance

The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.22 and a current ratio of 1.27. The company has a market capitalization of $1.38 billion, a P/E ratio of -50.71 and a beta of 1.28. The firm’s fifty day moving average is $6.15 and its 200 day moving average is $5.65.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Monday, October 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Custom Truck One Source had a negative net margin of 1.26% and a negative return on equity of 5.28%. The business had revenue of $482.06 million for the quarter, compared to analysts’ expectations of $492.12 million. During the same quarter last year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of Custom Truck One Source

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers increased its stake in Custom Truck One Source by 118.8% in the 1st quarter. Cetera Investment Advisers now owns 58,343 shares of the company’s stock worth $246,000 after buying an additional 31,684 shares during the period. Swiss National Bank grew its stake in Custom Truck One Source by 15.6% in the 1st quarter. Swiss National Bank now owns 135,700 shares of the company’s stock worth $573,000 after acquiring an additional 18,300 shares in the last quarter. Invesco Ltd. increased its position in shares of Custom Truck One Source by 12.8% during the first quarter. Invesco Ltd. now owns 110,816 shares of the company’s stock worth $468,000 after acquiring an additional 12,617 shares during the period. Nuveen LLC bought a new stake in shares of Custom Truck One Source during the first quarter valued at approximately $699,000. Finally, Sei Investments Co. boosted its holdings in shares of Custom Truck One Source by 4.0% in the first quarter. Sei Investments Co. now owns 129,520 shares of the company’s stock valued at $547,000 after purchasing an additional 4,955 shares during the period. 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).