Custom Truck One Source (NYSE:CTOS) Hits New 1-Year High – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $10.94 and last traded at $10.8860, with a volume of 1279 shares. The stock had previously closed at $10.66.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $11.00 target price on shares of Custom Truck One Source in a report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday, April 20th. DA Davidson restated a “buy” rating and issued a $8.50 price target on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Stifel Nicolaus lifted their target price on shares of Custom Truck One Source from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Capital One Financial set a $13.00 target price on shares of Custom Truck One Source in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.14.

Custom Truck One Source Stock Down 1.8%

The firm’s 50 day moving average price is $8.97 and its two-hundred day moving average price is $7.33. The company has a market cap of $2.37 billion, a P/E ratio of -116.40 and a beta of 1.37. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.25 and a current ratio of 1.30.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Monday, April 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $461.62 million during the quarter, compared to analyst estimates of $452.67 million. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%. Custom Truck One Source’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. Equities research analysts anticipate that Custom Truck One Source, Inc. will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

A number of hedge funds have recently bought and sold shares of CTOS. Parallel Advisors LLC purchased a new position in Custom Truck One Source during the 4th quarter worth $28,000. BNP Paribas Financial Markets boosted its holdings in 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 worth $29,000 after acquiring an additional 2,809 shares during the last quarter. Quantbot Technologies LP purchased a new position in Custom Truck One Source during the 2nd quarter worth $35,000. Oak Thistle LLC purchased a new position in Custom Truck One Source during the 4th quarter worth $58,000. Finally, Jane Street Group LLC purchased a new position in Custom Truck One Source during the 2nd quarter worth $58,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

Custom Truck One Source Company Profile

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.