Custom Truck One Source (NYSE:CTOS) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $9.45 and traded as high as $10.16. Custom Truck One Source shares last traded at $10.0060, with a volume of 1,496,887 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. DA Davidson reissued a “buy” rating and issued a $13.00 price objective on shares of Custom Truck One Source in a report on Tuesday, October 27th. Robert W. Baird raised their target price on Custom Truck One Source from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Zacks Research cut Custom Truck One Source from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of Custom Truck One Source in a research report on Tuesday, October 27th. Finally, Oppenheimer boosted their price target on Custom Truck One Source from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.00.

Custom Truck One Source Price Performance

The stock’s fifty day moving average is $9.45 and its 200-day moving average is $8.95. The stock has a market capitalization of $2.27 billion, a PE ratio of 76.97 and a beta of 1.46. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.28 and a quick ratio of 0.25.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Monday, October 26th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Custom Truck One Source had a net margin of 1.44% and a return on equity of 3.63%. The company had revenue of $495.22 million during the quarter, compared to analysts’ expectations of $516.51 million. During the same quarter in the previous year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Custom Truck One Source, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

A number of institutional investors have recently modified their holdings of CTOS. Canvas Wealth Advisors LLC increased its stake in shares of Custom Truck One Source by 0.5% in the 3rd quarter. Canvas Wealth Advisors LLC now owns 6,010,311 shares of the company’s stock valued at $54,754,000 after purchasing an additional 27,662 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Custom Truck One Source by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock worth $36,806,000 after purchasing an additional 741,857 shares in the last quarter. First Trust Advisors LP boosted its position in Custom Truck One Source by 6.4% during the first quarter. First Trust Advisors LP now owns 1,301,351 shares of the company’s stock worth $8,550,000 after purchasing an additional 78,476 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Custom Truck One Source by 154.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,056,550 shares of the company’s stock valued at $6,942,000 after purchasing an additional 642,109 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Custom Truck One Source by 42.0% in the third quarter. Russell Investments Group Ltd. now owns 751,941 shares of the company’s stock valued at $6,850,000 after purchasing an additional 222,249 shares during the period. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialized trucks and equipment, along with rental, sales, parts and service for customers in utility, telecommunications, rail, forestry and other infrastructure-related industries. The company serves customers across North America.

Its offerings include aerial lifts, bucket trucks, digger derricks, cranes, forestry equipment and rail equipment. Customers can rent or buy new and used equipment, and the company also provides maintenance, repair, refurbishment and equipment customization services.

Custom Truck One Source was formed in 2015 through the combination of several specialty equipment businesses.