Custom Truck One Source (NYSE:CTOS) Sets New 52-Week Low on Disappointing Earnings

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) reached a new 52-week low during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $3.61 and last traded at $4.08, with a volume of 764179 shares. The stock had previously closed at $4.90.

The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Custom Truck One Source had a net margin of 2.72% and a return on equity of 5.55%. The business had revenue of $411.31 million for the quarter, compared to analyst estimates of $455.98 million. During the same quarter last year, the business earned $0.06 EPS. Custom Truck One Source’s revenue for the quarter was down 9.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday. Robert W. Baird cut their target price on Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Custom Truck One Source has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds have recently modified their holdings of CTOS. DekaBank Deutsche Girozentrale acquired a new position in Custom Truck One Source during the third quarter valued at $31,000. Sherbrooke Park Advisers LLC acquired a new position in Custom Truck One Source during the third quarter valued at $89,000. Arbor Wealth Advisors LLC acquired a new position in Custom Truck One Source during the fourth quarter valued at $94,000. Tower Research Capital LLC TRC raised its position in Custom Truck One Source by 851.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,011 shares of the company’s stock valued at $99,000 after buying an additional 14,328 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Custom Truck One Source during the third quarter valued at $121,000. 90.07% of the stock is owned by hedge funds and other institutional investors.

Custom Truck One Source Stock Down 14.9 %

The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 0.91 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 1.41 and a debt-to-equity ratio of 1.62. The firm has a 50-day moving average of $5.64 and a two-hundred day moving average of $5.96.

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).