Custom Truck One Source (NYSE:CTOS) Sets New 1-Year High – Still a Buy?

Custom Truck One Source, Inc. (NYSE:CTOS) hit a new 52-week high during trading on Thursday . The stock traded as high as $10.22 and last traded at $10.1050, with a volume of 552452 shares trading hands. The stock had previously closed at $9.92.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTOS. Cantor Fitzgerald began coverage on Custom Truck One Source in a research note on Tuesday, April 21st. They set an “overweight” rating and a $11.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and issued a $11.00 price objective on shares of Custom Truck One Source in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday, April 20th. Stifel Nicolaus lifted their price target on Custom Truck One Source from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, DA Davidson restated a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Custom Truck One Source currently has an average rating of “Hold” and a consensus target price of $9.33.

Custom Truck One Source Stock Performance

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -112.28 and a beta of 1.40. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 2.02. The stock’s 50 day moving average is $7.46 and its 200 day moving average is $6.71.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data 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 firm had revenue of $461.62 million during the quarter, compared to the consensus estimate of $452.67 million. During the same period last year, the business posted ($0.08) earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts anticipate that Custom Truck One Source, Inc. will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new position in Custom Truck One Source during the 4th quarter worth $28,000. BNP Paribas Financial Markets boosted its position in shares of 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 acquiring an additional 2,809 shares during the period. Quantbot Technologies LP bought a new stake in shares of Custom Truck One Source in the second quarter valued at about $35,000. Oak Thistle LLC acquired a new position in shares of Custom Truck One Source in the fourth quarter valued at about $58,000. Finally, Jane Street Group LLC bought a new position in Custom Truck One Source during the second quarter worth about $58,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

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.