Zacks Research Downgrades Custom Truck One Source (NYSE:CTOS) to Hold

Custom Truck One Source (NYSE:CTOS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research analysts have also issued reports on the company. Oppenheimer raised their target price on Custom Truck One Source from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald increased their price target on Custom Truck One Source from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Robert W. Baird raised their price objective on Custom Truck One Source from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Custom Truck One Source from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Finally, DA Davidson restated a “buy” rating and set a $13.00 price target on shares of Custom Truck One Source in a report on Tuesday, September 15th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Custom Truck One Source presently has an average rating of “Hold” and a consensus price target of $12.00.

Custom Truck One Source Stock Up 0.8%

Shares of NYSE CTOS opened at $9.96 on Monday. The stock has a market capitalization of $2.27 billion, a P/E ratio of 110.63 and a beta of 1.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.29 and a current ratio of 1.34. Custom Truck One Source has a 52 week low of $5.18 and a 52 week high of $12.23. The stock’s fifty day moving average is $9.70 and its 200 day moving average is $9.45.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Custom Truck One Source had a return on equity of 2.66% and a net margin of 1.05%.The company had revenue of $563.45 million for the quarter, compared to analyst estimates of $509.76 million. During the same quarter last year, the company posted ($0.13) EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Custom Truck One Source will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently bought and sold shares of CTOS. Dimensional Fund Advisors LP boosted its stake in Custom Truck One Source by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock valued at $36,806,000 after purchasing an additional 741,857 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Custom Truck One Source by 154.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,056,550 shares of the company’s stock worth $6,942,000 after purchasing an additional 642,109 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Custom Truck One Source by 42.9% in the first quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the company’s stock valued at $6,570,000 after purchasing an additional 300,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Custom Truck One Source during the second quarter valued at approximately $1,842,000. Finally, Tidal Investments LLC purchased a new position in shares of Custom Truck One Source during the second quarter valued at approximately $987,000. 90.07% of the stock is owned by institutional investors.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc is a specialty equipment provider serving the utility, telecommunications, rail, infrastructure, vegetation management and related industrial markets. The company sells, rents and services new and used equipment designed for field operations, including aerial devices, bucket trucks, digger derricks, cranes, construction equipment, trailers and rail-based equipment.

In addition to equipment sales and rentals, Custom Truck One Source provides parts, maintenance, repair, refurbishment and other support services.