Custom Truck One Source, Inc. (NYSE:CTOS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Custom Truck One Source, Inc. (NYSE:CTOS) has been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $6.30.

Several analysts recently issued reports on CTOS shares. Oppenheimer reduced their price target on Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus started coverage on Custom Truck One Source in a research report on Friday, June 14th. They issued a “hold” rating and a $5.50 price target on the stock. Finally, JPMorgan Chase & Co. cut their target price on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th.

Custom Truck One Source Stock Up 0.6 %

Shares of Custom Truck One Source stock opened at $3.35 on Monday. The business’s 50 day simple moving average is $3.99 and its 200 day simple moving average is $4.56. Custom Truck One Source has a 52-week low of $3.20 and a 52-week high of $7.00. The firm has a market cap of $805.40 million, a PE ratio of 33.50 and a beta of 0.62. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.20 and a current ratio of 1.30.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The firm had revenue of $423.00 million during the quarter, compared to analyst estimates of $456.23 million. Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.51%. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. On average, analysts predict that Custom Truck One Source will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas R. Rich purchased 26,200 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $3.84 per share, for a total transaction of $100,608.00. Following the completion of the acquisition, the insider now owns 224,778 shares in the company, valued at approximately $863,147.52. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Thomas R. Rich acquired 26,200 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $3.84 per share, with a total value of $100,608.00. Following the completion of the purchase, the insider now directly owns 224,778 shares in the company, valued at $863,147.52. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Energy Capital Partners Manage sold 18,640 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $4.17, for a total value of $77,728.80. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Custom Truck One Source

Several institutional investors and hedge funds have recently modified their holdings of CTOS. Allspring Global Investments Holdings LLC raised its stake in shares of 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 worth $21,466,000 after purchasing an additional 3,234,586 shares during the last quarter. Maven Securities LTD purchased a new stake in shares of Custom Truck One Source during the second quarter valued at approximately $2,175,000. Heartland Advisors Inc. purchased a new stake in shares of Custom Truck One Source during the first quarter valued at approximately $2,456,000. Dimensional Fund Advisors LP increased its position in shares of Custom Truck One Source by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after acquiring an additional 410,895 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in shares of Custom Truck One Source during the second quarter valued at approximately $1,328,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

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).