Heartland Advisors Inc. Buys 300,000 Shares of Custom Truck One Source, Inc. $CTOS

Heartland Advisors Inc. boosted its stake in Custom Truck One Source, Inc. (NYSE:CTOS) by 42.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,000,000 shares of the company’s stock after purchasing an additional 300,000 shares during the quarter. Heartland Advisors Inc. owned about 0.44% of Custom Truck One Source worth $6,570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Parallel Advisors LLC bought a new position in shares of Custom Truck One Source during the 4th quarter worth about $28,000. BNP Paribas Financial Markets raised its stake in Custom Truck One Source by 92.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock worth $29,000 after buying 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 approximately $35,000. Oak Thistle LLC bought a new position in Custom Truck One Source in the fourth quarter worth approximately $58,000. Finally, Jane Street Group LLC bought a new position in Custom Truck One Source in the second quarter worth approximately $58,000. 90.07% of the stock is owned by institutional investors.

Custom Truck One Source Stock Performance

Shares of Custom Truck One Source stock opened at $10.37 on Monday. The company has a market cap of $2.35 billion, a PE ratio of -115.20 and a beta of 1.34. Custom Truck One Source, Inc. has a 52 week low of $5.18 and a 52 week high of $12.23. The business has a 50 day moving average price of $10.31 and a 200-day moving average price of $8.14. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 2.02.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. DA Davidson restated a “buy” rating and set a $8.50 price objective on shares of Custom Truck One Source in a report on Tuesday, April 28th. Cantor Fitzgerald lifted their price target on shares of 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. Oppenheimer restated an “outperform” rating and set a $11.00 price objective on shares of Custom Truck One Source in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Custom Truck One Source from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.14.

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.