Custom Truck One Source (NYSE:CTOS) Releases Quarterly Earnings Results

Custom Truck One Source (NYSE:CTOS) announced its quarterly earnings data on Monday. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04, FiscalAI reports. The company had revenue of $563.45 million during the quarter, compared to the consensus estimate of $509.76 million. Custom Truck One Source had a negative return on equity of 2.18% and a negative net margin of 0.88%.

Custom Truck One Source Stock Up 4.5%

CTOS traded up $0.45 during midday trading on Monday, hitting $10.60. 1,413,421 shares of the company’s stock traded hands, compared to its average volume of 997,594. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.30 and a quick ratio of 0.25. The company has a market cap of $2.40 billion, a PE ratio of -117.82 and a beta of 1.34. Custom Truck One Source has a one year low of $5.18 and a one year high of $12.23. The stock’s fifty day simple moving average is $10.45 and its 200-day simple moving average is $8.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CTOS shares. Capital One Financial set a $13.00 target price on Custom Truck One Source in a research report on Tuesday, May 26th. Oppenheimer reiterated an “outperform” rating and issued a $11.00 price target on shares of Custom Truck One Source in a research report on Friday, May 1st. DA Davidson restated a “buy” rating and set a $8.50 price objective on shares of Custom Truck One Source in a report on Tuesday, April 28th. Cantor Fitzgerald raised their target price on shares of Custom Truck One Source from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.14.

Institutional Investors Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its holdings in Custom Truck One Source by 9.5% during the second quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock valued at $157,000 after buying an additional 2,773 shares in the last quarter. Oxford Asset Management LLP bought a new stake in shares of Custom Truck One Source during the 4th quarter worth about $138,000. M&T Bank Corp boosted its stake in shares of Custom Truck One Source by 7.6% during the 2nd quarter. M&T Bank Corp now owns 26,222 shares of the company’s stock worth $130,000 after acquiring an additional 1,848 shares in the last quarter. Olympiad Research LP acquired a new position in shares of Custom Truck One Source during the 4th quarter valued at about $109,000. Finally, Abel Hall LLC bought a new position in shares of Custom Truck One Source in the 4th quarter valued at approximately $91,000. Institutional investors and hedge funds 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.