Custom Truck One Source (NYSE:CTOS) Shares Gap Up – Still a Buy?

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $7.88, but opened at $8.25. Custom Truck One Source shares last traded at $8.3770, with a volume of 102,316 shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price target on Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, March 11th. DA Davidson reiterated a “buy” rating and issued a $8.50 target price on shares of Custom Truck One Source in a report on Wednesday, March 11th. Finally, Cantor Fitzgerald started coverage on Custom Truck One Source in a report on Tuesday. They issued an “overweight” rating and a $11.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.00.

Custom Truck One Source Price Performance

The company has a fifty day moving average of $6.84 and a 200 day moving average of $6.40. The firm has a market capitalization of $1.89 billion, a P/E ratio of -55.70 and a beta of 1.12. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Custom Truck One Source had a negative return on equity of 3.88% and a negative net margin of 1.60%.The business had revenue of $528.18 million for the quarter, compared to analysts’ expectations of $584.76 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. Sell-side analysts predict that Custom Truck One Source, Inc. will post 0.03 earnings per share for the current year.

Institutional Trading of Custom Truck One Source

Several institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its holdings in Custom Truck One Source by 7.6% in the second quarter. M&T Bank Corp now owns 26,222 shares of the company’s stock valued at $130,000 after acquiring an additional 1,848 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Custom Truck One Source by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company’s stock valued at $185,000 after buying an additional 2,371 shares during the period. Stoneridge Investment Partners LLC lifted its stake in Custom Truck One Source by 8.2% in the third quarter. Stoneridge Investment Partners LLC now owns 32,813 shares of the company’s stock valued at $211,000 after buying an additional 2,478 shares during the period. Legal & General Group Plc lifted its stake in Custom Truck One Source by 4.6% in the third quarter. Legal & General Group Plc now owns 60,973 shares of the company’s stock valued at $391,000 after buying an additional 2,692 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Custom Truck One Source by 9.5% in the second quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock valued at $157,000 after buying an additional 2,773 shares during the period. 90.07% of the stock is currently owned by institutional investors.

About Custom Truck One Source

Custom Truck One Source, Inc (NYSE: CTOS) is a North American provider of specialty rental equipment, parts and services. The company’s fleet encompasses a wide range of assets, including cranes, aerial work platforms, trench safety and shoring equipment, fluid management solutions, generators and other industrial machinery. Customers rely on Custom Truck One Source to support projects in construction, energy, telecommunications, industrial manufacturing, municipalities and large-scale events.

Headquartered in Plano, Texas, Custom Truck One Source has expanded through a combination of organic growth and strategic acquisitions to establish a network of more than 140 branch locations across the United States and Canada.