Custom Truck One Source (NYSE:CTOS) Shares Up 8.8% – Time to Buy?

Custom Truck One Source, Inc. (NYSE:CTOS) shares traded up 8.8% during mid-day trading on Friday . The company traded as high as $4.25 and last traded at $4.26. 69,744 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 807,973 shares. The stock had previously closed at $3.91.

Analyst Ratings Changes

Several equities analysts have commented on CTOS shares. Oppenheimer increased their price target on shares of Custom Truck One Source from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Stifel Nicolaus cut their price target on shares of Custom Truck One Source from $5.50 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird downgraded shares of Custom Truck One Source from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Monday, April 28th. Finally, Baird R W cut Custom Truck One Source from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Custom Truck One Source has an average rating of “Hold” and an average price target of $5.25.

Custom Truck One Source Stock Performance

The stock has a market cap of $925.17 million, a PE ratio of -25.63 and a beta of 0.83. The firm’s 50-day moving average is $4.23 and its 200 day moving average is $4.65. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Wednesday, April 30th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The business had revenue of $422.23 million during the quarter, compared to analysts’ expectations of $435.19 million. During the same period in the previous year, the company posted ($0.06) earnings per share. Custom Truck One Source’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that Custom Truck One Source, Inc. will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in shares of Custom Truck One Source during the fourth quarter worth $29,000. R Squared Ltd acquired a new stake in shares of Custom Truck One Source in the 4th quarter worth $39,000. Teacher Retirement System of Texas purchased a new stake in shares of Custom Truck One Source in the first quarter valued at about $43,000. KLP Kapitalforvaltning AS acquired a new position in shares of Custom Truck One Source during the fourth quarter worth about $56,000. Finally, Two Sigma Investments LP purchased a new position in Custom Truck One Source during the fourth quarter worth about $63,000. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

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).