Oppenheimer Forecasts Strong Price Appreciation for Custom Truck One Source (NYSE:CTOS) Stock

Custom Truck One Source (NYSE:CTOS) had its price target boosted by equities research analysts at Oppenheimer from $5.00 to $6.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 13.53% from the company’s current price.

Custom Truck One Source Trading Up 9.4 %

Shares of CTOS traded up $0.46 during mid-day trading on Thursday, reaching $5.29. The company had a trading volume of 411,083 shares, compared to its average volume of 767,779. Custom Truck One Source has a fifty-two week low of $3.03 and a fifty-two week high of $6.27. The firm has a fifty day simple moving average of $4.84 and a 200-day simple moving average of $4.50. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -32.84 and a beta of 0.67. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87.

Insider Buying and Selling at Custom Truck One Source

In other Custom Truck One Source news, major shareholder Pe One Source Holdings, Llc purchased 8,143,635 shares of Custom Truck One Source stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the completion of the transaction, the insider now directly owns 156,743,635 shares in the company, valued at approximately $626,974,540. This represents a 5.48 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Trading of Custom Truck One Source

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Custom Truck One Source in the 4th quarter worth $29,000. R Squared Ltd purchased a new stake in shares of Custom Truck One Source during the fourth quarter worth about $39,000. KLP Kapitalforvaltning AS acquired a new position in shares of Custom Truck One Source in the fourth quarter worth about $56,000. Two Sigma Investments LP purchased a new position in Custom Truck One Source in the fourth quarter valued at about $63,000. Finally, Platform Technology Partners acquired a new stake in Custom Truck One Source during the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

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).