Custom Truck One Source (NYSE:CTOS) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Custom Truck One Source (NYSE:CTOS) from a strong-buy rating to a hold rating in a report published on Monday,Zacks reports.

CTOS has been the subject of several other reports. Oppenheimer raised their price objective on Custom Truck One Source from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Custom Truck One Source from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Robert W. Baird upped their target price on Custom Truck One Source from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Cantor Fitzgerald increased their price target on Custom Truck One Source from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Finally, DA Davidson reissued a “buy” rating and issued a $13.00 price target on shares of Custom Truck One Source in a research note on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.00.

Custom Truck One Source Stock Performance

NYSE:CTOS opened at $9.45 on Monday. The company has a 50-day moving average of $9.69 and a 200-day moving average of $9.47. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 105.03 and a beta of 1.43. The company has a current ratio of 1.34, a quick ratio of 0.29 and a debt-to-equity ratio of 2.03. Custom Truck One Source has a twelve month low of $5.18 and a twelve month high of $12.23.

Custom Truck One Source (NYSE:CTOS) last released its earnings results on Monday, August 3rd. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $563.45 million during the quarter, compared to analyst estimates of $509.76 million. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) earnings per share. Analysts forecast that Custom Truck One Source will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC acquired a new stake in Custom Truck One Source during the 2nd quarter worth about $987,000. Integrated Wealth Concepts LLC acquired a new position in Custom Truck One Source in the 2nd quarter valued at approximately $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Custom Truck One Source in the 2nd quarter worth approximately $791,000. Bank of New York Mellon Corp purchased a new stake in Custom Truck One Source in the 2nd quarter worth approximately $1,842,000. Finally, Empowered Funds LLC boosted its stake in shares of Custom Truck One Source by 9.9% during the 1st quarter. Empowered Funds LLC now owns 810,115 shares of the company’s stock valued at $5,322,000 after buying an additional 72,935 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

About Custom Truck One Source

Custom Truck One Source, Inc is a specialty equipment provider serving the utility, telecommunications, rail, infrastructure, vegetation management and related industrial markets. The company sells, rents and services new and used equipment designed for field operations, including aerial devices, bucket trucks, digger derricks, cranes, construction equipment, trailers and rail-based equipment.

In addition to equipment sales and rentals, Custom Truck One Source provides parts, maintenance, repair, refurbishment and other support services.