Custom Truck One Source (NYSE:CTOS) Price Target Raised to $6.50

Custom Truck One Source (NYSE:CTOS) had its price objective lifted by JPMorgan Chase & Co. from $6.00 to $6.50 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other research firms also recently commented on CTOS. Zacks Research raised Custom Truck One Source from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Wednesday, October 8th. Robert W. Baird set a $6.50 price objective on shares of Custom Truck One Source in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Custom Truck One Source from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.25.

Custom Truck One Source Stock Down 1.8%

CTOS stock opened at $6.29 on Wednesday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -52.38 and a beta of 1.16. The company has a fifty day moving average price of $6.02 and a 200 day moving average price of $5.96. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 0.22. Custom Truck One Source has a 12 month low of $3.18 and a 12 month high of $6.78.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Monday, October 27th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Custom Truck One Source had a negative net margin of 1.26% and a negative return on equity of 5.28%. The business had revenue of $482.06 million during the quarter, compared to analyst estimates of $492.12 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Custom Truck One Source will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of Custom Truck One Source by 92.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock worth $29,000 after purchasing an additional 2,809 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Custom Truck One Source in the second quarter valued at about $35,000. Jane Street Group LLC purchased a new stake in Custom Truck One Source during the second quarter worth about $58,000. R Squared Ltd acquired a new position in Custom Truck One Source during the second quarter worth about $59,000. Finally, AQR Capital Management LLC purchased a new position in Custom Truck One Source in the first quarter valued at about $63,000. 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.