Custom Truck One Source (NYSE:CTOS) Sets New 1-Year High – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.75 and last traded at $7.4740, with a volume of 838903 shares. The stock had previously closed at $7.56.

Analyst Ratings Changes

CTOS has been the topic of several analyst reports. Robert W. Baird set a $6.50 price target on shares of Custom Truck One Source in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Wednesday, January 21st. Zacks Research raised Custom Truck One Source from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Custom Truck One Source from $6.00 to $6.50 and gave the stock an “underweight” rating in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.25.

Custom Truck One Source Stock Down 1.1%

The firm has a market capitalization of $1.69 billion, a PE ratio of -62.28 and a beta of 1.17. The stock has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $6.20. The company has a quick ratio of 0.22, a current ratio of 1.27 and a debt-to-equity ratio of 2.08.

Hedge Funds Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC purchased a new position in shares of Custom Truck One Source in the fourth quarter worth about $28,000. BNP Paribas Financial Markets lifted its stake in shares of Custom Truck One Source by 92.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after buying an additional 2,809 shares in the last quarter. Quantbot Technologies LP bought a new position in Custom Truck One Source in the 2nd quarter worth approximately $35,000. Oak Thistle LLC bought a new position in Custom Truck One Source in the 4th quarter worth approximately $58,000. Finally, Jane Street Group LLC purchased a new position in Custom Truck One Source in the 2nd quarter valued at approximately $58,000. 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.