Custom Truck One Source, Inc. $CTOS Shares Acquired by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC boosted its holdings in Custom Truck One Source, Inc. (NYSE:CTOS) by 48.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,050,221 shares of the company’s stock after purchasing an additional 2,303,504 shares during the period. Custom Truck One Source comprises about 6.9% of Canvas Wealth Advisors LLC’s portfolio, making the stock its largest holding. Canvas Wealth Advisors LLC’s holdings in Custom Truck One Source were worth $40,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTOS. SG Americas Securities LLC lifted its position in Custom Truck One Source by 24.4% during the 4th quarter. SG Americas Securities LLC now owns 44,358 shares of the company’s stock worth $256,000 after buying an additional 8,705 shares in the last quarter. Voleon Capital Management LP bought a new position in shares of Custom Truck One Source in the 3rd quarter valued at about $1,718,000. Verition Fund Management LLC bought a new position in shares of Custom Truck One Source in the 3rd quarter valued at about $630,000. Sandler Capital Management acquired a new stake in shares of Custom Truck One Source in the third quarter valued at about $1,421,000. Finally, Private Capital Management LLC acquired a new stake in shares of Custom Truck One Source in the third quarter valued at about $2,119,000. 90.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CTOS shares. JPMorgan Chase & Co. reduced their price target on Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, January 21st. Finally, DA Davidson reiterated a “buy” rating and set a $8.50 price objective on shares of Custom Truck One Source in a research note on Wednesday, March 11th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Custom Truck One Source presently has a consensus rating of “Hold” and a consensus price target of $7.40.

Custom Truck One Source Trading Up 1.6%

CTOS stock opened at $6.58 on Thursday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -43.87 and a beta of 1.14. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26. The company has a fifty day moving average price of $6.67 and a two-hundred day moving average price of $6.28. Custom Truck One Source, Inc. has a one year low of $3.18 and a one year high of $7.75.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. The business had revenue of $528.18 million for the quarter, compared to analyst estimates of $584.76 million. During the same quarter in the prior year, the business earned $0.12 EPS. Custom Truck One Source’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts anticipate that Custom Truck One Source, Inc. will post -0.21 EPS for the current year.

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.