Custom Truck One Source (NYSE:CTOS) Receives New Coverage from Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Custom Truck One Source (NYSE:CTOS) in a research report released on Friday morning, Analyst Ratings Network reports. The brokerage issued an outperform rating and a $11.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Custom Truck One Source from a sell rating to a hold rating in a research note on Tuesday. Citigroup began coverage on shares of Custom Truck One Source in a research report on Monday, December 20th. They issued a buy rating on the stock. Finally, Stifel Nicolaus began coverage on Custom Truck One Source in a research note on Monday, December 6th. They issued a buy rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Custom Truck One Source presently has a consensus rating of Buy and an average price target of $10.67.

CTOS opened at $7.80 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.45 and a debt-to-equity ratio of 1.55. The firm’s fifty day moving average price is $8.31 and its two-hundred day moving average price is $8.50. Custom Truck One Source has a 1 year low of $6.09 and a 1 year high of $11.36.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings results on Tuesday, November 9th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The company had revenue of $357.31 million during the quarter, compared to analysts’ expectations of $291.90 million. Custom Truck One Source had a negative return on equity of 26.85% and a negative net margin of 20.71%. During the same period last year, the firm posted ($0.17) earnings per share. Sell-side analysts predict that Custom Truck One Source will post -1.05 EPS for the current fiscal year.

In other news, insider James Carlsen bought 5,000 shares of the company’s stock in a transaction on Friday, December 3rd. The shares were acquired at an average cost of $7.44 per share, with a total value of $37,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 12,322,975 shares of Custom Truck One Source stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $8.20, for a total value of $101,048,395.00. The disclosure for this sale can be found here. Insiders have purchased 25,000 shares of company stock worth $190,500 over the last ninety days. 4.80% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. LPL Financial LLC lifted its position in shares of Custom Truck One Source by 5.3% during the 3rd quarter. LPL Financial LLC now owns 45,750 shares of the company’s stock valued at $427,000 after buying an additional 2,304 shares in the last quarter. IndexIQ Advisors LLC raised its stake in Custom Truck One Source by 11.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 48,085 shares of the company’s stock valued at $449,000 after purchasing an additional 4,816 shares during the period. JPMorgan Chase & Co. bought a new stake in Custom Truck One Source during the 2nd quarter valued at approximately $48,000. Invesco Ltd. raised its stake in Custom Truck One Source by 2.4% during the 3rd quarter. Invesco Ltd. now owns 233,505 shares of the company’s stock valued at $2,179,000 after purchasing an additional 5,371 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in Custom Truck One Source during the 2nd quarter valued at approximately $54,000. 88.93% of the stock is currently owned by hedge funds and other institutional investors.

About Custom Truck One Source

Custom Truck One Source, Inc engages in the sale and rental of truck and heavy equipment. The firm offers aftermarket parts and service, equipment customization, remanufacturing, financing solutions, and asset disposal services. The company is headquartered in Kansas City, MO.

Read More: Stock Symbols and CUSIP Explained

Analyst Recommendations for Custom Truck One Source (NYSE:CTOS)

Receive News & Ratings for Custom Truck One Source Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Custom Truck One Source and related companies with MarketBeat.com's FREE daily email newsletter.