Custom Truck One Source (NYSE:CTOS) Reaches New 1-Year High – Here’s What Happened

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price reached a new 52-week high on Monday . The company traded as high as $7.78 and last traded at $7.8150, with a volume of 98798 shares traded. The stock had previously closed at $7.61.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CTOS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, January 21st. DA Davidson reissued a “buy” rating and set a $8.50 price objective on shares of Custom Truck One Source in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. decreased their target price on Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.40.

Custom Truck One Source Trading Up 4.4%

The company has a current ratio of 1.33, a quick ratio of 0.26 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $1.80 billion, a P/E ratio of -52.97 and a beta of 1.12. The business’s fifty day simple moving average is $6.82 and its two-hundred day simple moving average is $6.39.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Tuesday, March 10th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $528.18 million for the quarter, compared to the consensus estimate of $584.76 million. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, analysts forecast that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Custom Truck One Source

Several large investors have recently added to or reduced their stakes in the company. M&T Bank Corp lifted its position in shares of Custom Truck One Source by 7.6% in 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 during the period. The Manufacturers Life Insurance Company increased its position in shares of Custom Truck One Source by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company’s stock valued at $185,000 after purchasing an additional 2,371 shares during the period. Stoneridge Investment Partners LLC increased its position in shares of Custom Truck One Source by 8.2% during the third quarter. Stoneridge Investment Partners LLC now owns 32,813 shares of the company’s stock valued at $211,000 after purchasing an additional 2,478 shares during the period. Legal & General Group Plc raised its stake in shares of Custom Truck One Source by 4.6% in the third quarter. Legal & General Group Plc now owns 60,973 shares of the company’s stock valued at $391,000 after purchasing an additional 2,692 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Custom Truck One Source by 9.5% in the second quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock valued at $157,000 after purchasing an additional 2,773 shares in the last quarter. 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.