Custom Truck One Source (NYSE:CTOS) Shares Gap Up Following Insider Buying Activity

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $4.17, but opened at $4.42. Custom Truck One Source shares last traded at $4.42, with a volume of 188,439 shares trading hands.

Specifically, Director Marshall Heinberg acquired 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average cost of $4.07 per share, for a total transaction of $162,800.00. Following the transaction, the director now directly owns 293,856 shares of the company’s stock, valued at $1,195,993.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Custom Truck One Source news, Director Marshall Heinberg bought 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average cost of $4.07 per share, for a total transaction of $162,800.00. Following the completion of the purchase, the director now owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Eperjesy purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average cost of $3.90 per share, with a total value of $78,000.00. Following the transaction, the chief financial officer now directly owns 176,962 shares of the company’s stock, valued at approximately $690,151.80. The disclosure for this purchase can be found here. Insiders purchased 63,000 shares of company stock worth $253,160 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on CTOS. Robert W. Baird reduced their price objective on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Custom Truck One Source Trading Up 8.9 %

The company has a fifty day simple moving average of $5.45 and a 200-day simple moving average of $5.90. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 43.90, a P/E/G ratio of 0.79 and a beta of 0.69. The company has a current ratio of 1.34, a quick ratio of 0.22 and a debt-to-equity ratio of 1.66.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $411.31 million during the quarter, compared to analyst estimates of $455.98 million. Custom Truck One Source had a return on equity of 2.48% and a net margin of 1.24%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. On average, research analysts forecast that Custom Truck One Source, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

Institutional investors have recently bought and sold shares of the business. Heartland Advisors Inc. purchased a new position in Custom Truck One Source during the first quarter valued at approximately $2,456,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Custom Truck One Source by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,156,983 shares of the company’s stock worth $13,373,000 after purchasing an additional 185,272 shares in the last quarter. Canvas Wealth Advisors LLC lifted its holdings in shares of Custom Truck One Source by 4.8% during the 4th quarter. Canvas Wealth Advisors LLC now owns 3,413,242 shares of the company’s stock valued at $21,299,000 after buying an additional 156,010 shares during the last quarter. Register Financial Advisors LLC increased its holdings in Custom Truck One Source by 410.8% in the first quarter. Register Financial Advisors LLC now owns 179,300 shares of the company’s stock worth $1,044,000 after buying an additional 144,200 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Custom Truck One Source by 48.4% in the first quarter. GSA Capital Partners LLP now owns 285,810 shares of the company’s stock worth $1,663,000 after purchasing an additional 93,267 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).