Custom Truck One Source (NYSE:CTOS) Trading 8.6% Higher – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price was up 8.6% during mid-day trading on Friday . The stock traded as high as $5.71 and last traded at $5.70. Approximately 634,080 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 603,000 shares. The stock had previously closed at $5.25.

Analyst Upgrades and Downgrades

Separately, Oppenheimer dropped their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.63.

Custom Truck One Source Price Performance

The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. The firm has a fifty day moving average of $3.91 and a 200 day moving average of $4.23. The company has a market capitalization of $1.34 billion, a P/E ratio of -32.81 and a beta of 0.61.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The firm had revenue of $447.22 million for the quarter, compared to analysts’ expectations of $448.46 million. During the same period in the prior year, the firm posted $0.04 earnings per share. Custom Truck One Source’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Custom Truck One Source, Inc. will post -0.21 EPS for the current year.

Insiders Place Their Bets

In other news, Director Energy Capital Partners Manage sold 18,640 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total transaction of $77,728.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the sale, the insider now owns 23,384,879 shares of the company’s stock, valued at approximately $79,976,286.18. This trade represents a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Custom Truck One Source

Hedge funds have recently modified their holdings of the business. Black Diamond Financial LLC raised its stake in shares of Custom Truck One Source by 906.8% in the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after acquiring an additional 1,285,265 shares during the period. First Eagle Investment Management LLC purchased a new position in Custom Truck One Source in the 2nd quarter valued at approximately $1,328,000. Maven Securities LTD purchased a new stake in Custom Truck One Source during the second quarter worth $2,175,000. Allspring Global Investments Holdings LLC grew its holdings in Custom Truck One Source by 190.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock valued at $21,466,000 after purchasing an additional 3,234,586 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Custom Truck One Source by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock worth $9,770,000 after buying an additional 410,895 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

About Custom Truck One Source

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).