Custom Truck One Source (NYSE:CTOS) Releases Earnings Results, Beats Expectations By $0.04 EPS

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

Custom Truck One Source Trading Up 4.5%

CTOS stock traded up $0.45 during trading on Monday, reaching $10.60. The company had a trading volume of 1,413,510 shares, compared to its average volume of 1,000,011. Custom Truck One Source has a 52 week low of $5.18 and a 52 week high of $12.23. The company has a market cap of $2.40 billion, a P/E ratio of -117.82 and a beta of 1.34. The business has a 50 day moving average of $10.45 and a 200 day moving average of $8.46. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.30 and a quick ratio of 0.25.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a report on Tuesday, April 28th. Oppenheimer reissued an “outperform” rating and set a $11.00 target price on shares of Custom Truck One Source in a research note on Friday, May 1st. Cantor Fitzgerald upped their target price on Custom Truck One Source from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Friday, July 17th. Finally, Stifel Nicolaus lifted their price target on shares of Custom Truck One Source from $8.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.14.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new position in Custom Truck One Source during the fourth quarter valued at $28,000. BNP Paribas Financial Markets grew its position in shares of Custom Truck One Source by 92.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock worth $29,000 after buying an additional 2,809 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Custom Truck One Source in the 2nd quarter worth about $35,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Custom Truck One Source in the 4th quarter worth about $67,000. Finally, Jane Street Group LLC bought a new position in shares of Custom Truck One Source in the 2nd quarter worth about $58,000. 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.