Custom Truck One Source (NYSE:CTOS) Reaches New 52-Week High – Still a Buy?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) reached a new 52-week high on Thursday . The company traded as high as $7.37 and last traded at $7.3940, with a volume of 96925 shares. The stock had previously closed at $7.29.

Wall Street Analysts Forecast Growth

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

Custom Truck One Source Stock Up 1.4%

The business’s 50-day moving average is $6.35 and its two-hundred day moving average is $6.15. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -61.63 and a beta of 1.17. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.22 and a current ratio of 1.27.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in Custom Truck One Source during the first quarter worth approximately $71,000. AQR Capital Management LLC acquired a new position in shares of Custom Truck One Source during the 1st quarter worth approximately $63,000. Goldman Sachs Group Inc. raised its stake in Custom Truck One Source by 223.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company’s stock valued at $2,235,000 after acquiring an additional 365,862 shares during the period. TD Asset Management Inc lifted its holdings in Custom Truck One Source by 1.8% during the 2nd quarter. TD Asset Management Inc now owns 148,438 shares of the company’s stock valued at $733,000 after purchasing an additional 2,590 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Custom Truck One Source during the second quarter worth $326,000. 90.07% of the stock is currently owned by 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.