Custom Truck One Source (NYSE:CTOS) Trading Up 5% – Time to Buy?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) shot up 5% on Thursday . The company traded as high as $5.28 and last traded at $5.32. 363,481 shares changed hands during trading, a decline of 59% from the average session volume of 888,328 shares. The stock had previously closed at $5.06.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reduced 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.

Custom Truck One Source Stock Down 2.0 %

The firm has a 50-day moving average price of $5.12 and a two-hundred day moving average price of $4.43. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -32.91 and a beta of 0.79. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The company had revenue of $447.22 million for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, sell-side analysts forecast that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Custom Truck One Source

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC grew its position in Custom Truck One Source by 4.9% during the 3rd quarter. Jane Street Group LLC now owns 89,432 shares of the company’s stock worth $309,000 after purchasing an additional 4,155 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Custom Truck One Source by 20.5% during the third quarter. D.A. Davidson & CO. now owns 29,240 shares of the company’s stock worth $101,000 after buying an additional 4,975 shares during the period. R Squared Ltd purchased a new position in shares of Custom Truck One Source during the fourth quarter worth about $39,000. SG Americas Securities LLC grew its holdings in shares of Custom Truck One Source by 69.4% during the fourth quarter. SG Americas Securities LLC now owns 31,523 shares of the company’s stock worth $152,000 after buying an additional 12,913 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Custom Truck One Source by 15.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock valued at $378,000 after acquiring an additional 14,906 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

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).