Investors Buy High Volume of Custom Truck One Source Put Options (NYSE:CTOS)

Custom Truck One Source, Inc. (NYSE:CTOS) was the target of unusually large options trading on Thursday. Stock investors purchased 2,765 put options on the stock. This is an increase of approximately 1,174% compared to the average daily volume of 217 put options.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTOS. Stifel Nicolaus lifted their price target on shares of Custom Truck One Source from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Custom Truck One Source from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, October 14th. Zacks Research raised shares of Custom Truck One Source from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, October 8th. Finally, Robert W. Baird set a $6.50 price objective on Custom Truck One Source in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.13.

Custom Truck One Source Price Performance

Shares of Custom Truck One Source stock opened at $5.96 on Friday. The company’s fifty day simple moving average is $6.09 and its two-hundred day simple moving average is $5.78. Custom Truck One Source has a 12-month low of $3.18 and a 12-month high of $6.78. The firm has a market cap of $1.35 billion, a PE ratio of -49.63 and a beta of 1.28. The company has a quick ratio of 0.22, a current ratio of 1.27 and a debt-to-equity ratio of 2.08.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings data on Monday, October 27th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $482.06 million for the quarter, compared to the consensus estimate of $492.12 million. Custom Truck One Source had a negative net margin of 1.26% and a negative return on equity of 5.28%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted ($0.07) earnings per share. As a group, equities analysts expect that Custom Truck One Source will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Custom Truck One Source

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in shares of Custom Truck One Source by 92.1% during the second quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after buying an additional 2,809 shares during the period. Quantbot Technologies LP purchased a new position in Custom Truck One Source during the 2nd quarter valued at $35,000. Teza Capital Management LLC purchased a new position in Custom Truck One Source during the 1st quarter valued at $45,000. Jane Street Group LLC bought a new position in Custom Truck One Source in the 2nd quarter worth $58,000. Finally, R Squared Ltd purchased a new stake in shares of Custom Truck One Source in the 2nd quarter worth about $59,000. 90.07% of the stock is currently owned by institutional investors.

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.