Custom Truck One Source (NYSE:CTOS) Sets New 12-Month Low on Disappointing Earnings

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price hit a new 52-week low on Friday following a weaker than expected earnings announcement. The stock traded as low as $3.61 and last traded at $4.08, with a volume of 764179 shares. The stock had previously closed at $4.90.

The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Custom Truck One Source had a return on equity of 2.46% and a net margin of 1.24%. The business had revenue of $411.31 million for the quarter, compared to analyst estimates of $455.98 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The firm’s quarterly revenue was down 9.0% on a year-over-year basis.

Analysts Set New Price Targets

Several research firms recently issued reports on CTOS. Robert W. Baird dropped their price target on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp increased its holdings in shares of Custom Truck One Source by 9.8% during the fourth quarter. M&T Bank Corp now owns 29,489 shares of the company’s stock worth $183,000 after buying an additional 2,627 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Custom Truck One Source by 9.7% during the fourth quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock worth $184,000 after buying an additional 2,636 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of Custom Truck One Source by 28.5% during the third quarter. Campbell & CO Investment Adviser LLC now owns 22,270 shares of the company’s stock worth $138,000 after buying an additional 4,934 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Custom Truck One Source during the third quarter worth approximately $31,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Custom Truck One Source by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 229,823 shares of the company’s stock worth $1,425,000 after buying an additional 7,299 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Trading Down 14.9 %

The company has a quick ratio of 0.31, a current ratio of 1.41 and a debt-to-equity ratio of 1.62. The company’s fifty day moving average price is $5.59 and its two-hundred day moving average price is $5.94. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 41.70, a price-to-earnings-growth ratio of 0.93 and a beta of 0.69.

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).