Custom Truck One Source (NYSE:CTOS) Trading Up 4.3% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) was up 4.3% during trading on Friday . The stock traded as high as $5.11 and last traded at $5.11. Approximately 83,982 shares traded hands during trading, a decline of 86% from the average daily volume of 604,886 shares. The stock had previously closed at $4.90.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lowered 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.63.

Custom Truck One Source Price Performance

The business’s 50 day moving average is $4.72 and its two-hundred day moving average is $4.37. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The firm has a market capitalization of $1.18 billion, a PE ratio of -31.69 and a beta of 0.78.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTOS. Victory Capital Management Inc. bought a new position in shares of Custom Truck One Source during the second quarter valued at about $47,000. Intech Investment Management LLC bought a new position in Custom Truck One Source during the 3rd quarter worth approximately $56,000. SG Americas Securities LLC bought a new stake in Custom Truck One Source in the third quarter valued at approximately $64,000. First Merchants Corp bought a new stake in Custom Truck One Source in the second quarter valued at approximately $87,000. Finally, FMR LLC grew its holdings in shares of Custom Truck One Source by 1,234.8% in the third quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after purchasing an additional 26,685 shares during the last quarter. 90.07% of the stock is currently 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).