Custom Truck One Source (NYSE:CTOS) Hits New 12-Month High – Time to Buy?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) hit a new 52-week high on Monday . The stock traded as high as $11.38 and last traded at $11.3570, with a volume of 2381 shares traded. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

CTOS has been the topic of a number of research analyst reports. Capital One Financial set a $13.00 price target on shares of Custom Truck One Source in a research note on Tuesday, May 26th. Cantor Fitzgerald increased their price objective on shares of Custom Truck One Source from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Oppenheimer reiterated an “outperform” rating and issued a $11.00 target price on shares of Custom Truck One Source in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on Custom Truck One Source from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, DA Davidson restated a “buy” rating and set a $8.50 price target on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Custom Truck One Source currently has a consensus rating of “Hold” and an average target price of $10.14.

Custom Truck One Source Stock Performance

The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.25 and a current ratio of 1.30. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -125.33 and a beta of 1.37. The firm has a 50-day simple moving average of $9.56 and a two-hundred day simple moving average of $7.56.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings results on Monday, April 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%. The business had revenue of $461.62 million for the quarter, compared to analysts’ expectations of $452.67 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Custom Truck One Source, Inc. will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTOS. Parallel Advisors LLC acquired a new position in shares of Custom Truck One Source in the fourth quarter worth $28,000. BNP Paribas Financial Markets boosted its holdings in Custom Truck One Source by 92.1% in the second quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after purchasing an additional 2,809 shares during the period. Quantbot Technologies LP acquired a new position in Custom Truck One Source during the 2nd quarter worth $35,000. Oak Thistle LLC acquired a new position in Custom Truck One Source during the 4th quarter worth $58,000. Finally, Jane Street Group LLC purchased a new stake in Custom Truck One Source during the 2nd quarter worth about $58,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.

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.