Custom Truck One Source (NYSE:CTOS) Shares Down 5.5% – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) traded down 5.5% during mid-day trading on Monday . The stock traded as low as $4.66 and last traded at $4.66. 79,487 shares were traded during trading, a decline of 87% from the average session volume of 608,852 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lowered their target price on 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Custom Truck One Source currently has a consensus rating of “Moderate Buy” and an average price target of $5.63.

Custom Truck One Source Price Performance

The stock’s 50 day simple moving average is $4.80 and its 200-day simple moving average is $4.37. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The company has a market capitalization of $1.13 billion, a PE ratio of -30.13 and a beta of 0.78.

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

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTOS. Allspring Global Investments Holdings LLC lifted its position 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 acquiring an additional 3,234,586 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 purchasing an additional 410,895 shares during the period. Black Diamond Financial LLC increased its stake in Custom Truck One Source by 906.8% in the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after purchasing an additional 1,285,265 shares during the period. Maven Securities LTD purchased a new stake in shares of Custom Truck One Source in the second quarter valued at about $2,175,000. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Custom Truck One Source during the second quarter worth about $1,328,000. 90.07% of the stock is 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).