Custom Truck One Source, Inc. (NYSE:CTOS) Receives Consensus Rating of “Hold” from Brokerages

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) have been given an average rating of “Hold” by the seven research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.3333.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Custom Truck One Source from $6.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, April 29th. DA Davidson reaffirmed a “buy” rating and issued a $8.50 target price on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Custom Truck One Source in a research note on Friday, May 1st. Stifel Nicolaus boosted their price objective on shares of Custom Truck One Source from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald started coverage on shares of Custom Truck One Source in a research note on Tuesday, April 21st. They set an “overweight” rating and a $11.00 price objective for the company.

Institutional Trading of Custom Truck One Source

Several institutional investors have recently made changes to their positions in the stock. M&T Bank Corp grew its stake in shares of Custom Truck One Source by 7.6% during the 2nd quarter. M&T Bank Corp now owns 26,222 shares of the company’s stock valued at $130,000 after buying an additional 1,848 shares during the period. R Squared Ltd boosted its position in Custom Truck One Source by 14.2% during the 1st quarter. R Squared Ltd now owns 18,894 shares of the company’s stock worth $124,000 after purchasing an additional 2,349 shares during the period. The Manufacturers Life Insurance Company boosted its position in Custom Truck One Source by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company’s stock worth $185,000 after purchasing an additional 2,371 shares during the period. Stoneridge Investment Partners LLC boosted its position in Custom Truck One Source by 8.2% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 32,813 shares of the company’s stock worth $211,000 after purchasing an additional 2,478 shares during the period. Finally, Legal & General Group Plc boosted its position in Custom Truck One Source by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 60,973 shares of the company’s stock valued at $391,000 after buying an additional 2,692 shares during the last quarter. 90.07% of the stock is owned by hedge funds and other institutional investors.

Custom Truck One Source Price Performance

CTOS stock opened at $9.23 on Friday. The firm has a 50 day moving average of $7.89 and a 200-day moving average of $6.87. Custom Truck One Source has a 12-month low of $4.19 and a 12-month high of $10.22. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 2.02. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -102.50 and a beta of 1.40.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings results on Monday, April 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%. The company had revenue of $461.62 million during the quarter, compared to the consensus estimate of $452.67 million. During the same period last year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Custom Truck One Source will post 0.11 EPS for the current fiscal year.

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.