Custom Truck One Source (NYSE:CTOS) Posts Earnings Results, Beats Expectations By $0.02 EPS

Custom Truck One Source (NYSE:CTOS) announced its quarterly earnings results on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, FiscalAI reports. The company had revenue of $528.18 million for the quarter, compared to the consensus estimate of $584.76 million. Custom Truck One Source had a negative return on equity of 5.28% and a negative net margin of 1.26%.

Custom Truck One Source Stock Performance

CTOS opened at $6.41 on Tuesday. The stock has a market cap of $1.45 billion, a P/E ratio of -53.38 and a beta of 1.14. The firm has a fifty day moving average price of $6.63 and a 200 day moving average price of $6.27. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 0.22. Custom Truck One Source has a 1 year low of $3.18 and a 1 year high of $7.75.

Institutional Trading of Custom Truck One Source

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its stake in Custom Truck One Source by 9.0% during the 4th quarter. Invesco Ltd. now owns 236,927 shares of the company’s stock worth $1,365,000 after purchasing an additional 19,660 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Custom Truck One Source by 130.1% in the 4th quarter. Empowered Funds LLC now owns 737,180 shares of the company’s stock valued at $4,246,000 after buying an additional 416,833 shares during the period. nVerses Capital LLC purchased a new position in Custom Truck One Source in the fourth quarter valued at about $232,000. Oxford Asset Management LLP acquired a new stake in Custom Truck One Source in the 4th quarter valued at about $138,000. Finally, Millennium Management LLC purchased a new position in Custom Truck One Source during the fourth quarter worth $1,831,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTOS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Custom Truck One Source from $6.00 to $6.50 and gave the company an “underweight” rating in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.25.

Custom Truck One Source Company Profile

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.