Custom Truck One Source (NYSE:CTOS) Trading Down 6% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price dropped 6% during trading on Friday . The stock traded as low as $10.31 and last traded at $10.4010. Approximately 162,597 shares traded hands during trading, a decline of 84% from the average daily volume of 1,002,204 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CTOS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Friday, July 17th. Oppenheimer boosted their price objective on Custom Truck One Source from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday. DA Davidson reissued 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. Capital One Financial set a $13.00 target price on Custom Truck One Source in a report on Tuesday, May 26th. Finally, Cantor Fitzgerald lifted their target price on Custom Truck One Source from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.21.

Custom Truck One Source Stock Down 5.1%

The stock’s fifty day moving average is $10.55 and its two-hundred day moving average is $8.58. The company has a current ratio of 1.34, a quick ratio of 0.25 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $2.38 billion, a PE ratio of 116.74 and a beta of 1.38.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $563.45 million during the quarter, compared to the consensus estimate of $509.76 million. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) earnings per share. As a group, analysts predict that Custom Truck One Source, Inc. will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Custom Truck One Source

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Custom Truck One Source by 15.3% in the 1st 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 during the period. Boston Partners grew its holdings in Custom Truck One Source by 0.8% during the third quarter. Boston Partners now owns 5,475,307 shares of the company’s stock valued at $35,150,000 after purchasing an additional 42,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Custom Truck One Source by 2.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,310,114 shares of the company’s stock valued at $34,090,000 after purchasing an additional 112,519 shares during the period. Vanguard Group Inc. increased its position in Custom Truck One Source by 4.3% in the third quarter. Vanguard Group Inc. now owns 3,276,088 shares of the company’s stock worth $21,032,000 after buying an additional 135,192 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in Custom Truck One Source by 42.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock worth $14,401,000 after buying an additional 750,000 shares during the last quarter. 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.