JPMorgan Chase & Co. Cuts Custom Truck One Source (NYSE:CTOS) Price Target to $6.00

Custom Truck One Source (NYSE:CTOS) had its price target decreased by JPMorgan Chase & Co. from $6.50 to $6.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

CTOS has been the subject of a number of other research reports. DA Davidson reiterated a “buy” rating and issued a $8.50 price target on shares of Custom Truck One Source in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.40.

Custom Truck One Source Stock Performance

CTOS opened at $5.86 on Wednesday. The company has a 50 day simple moving average of $6.64 and a two-hundred day simple moving average of $6.26. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.22. The firm has a market cap of $1.33 billion, a P/E ratio of -39.03 and a beta of 1.14. Custom Truck One Source has a 1-year low of $3.18 and a 1-year high of $7.75.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $528.18 million for the quarter, compared to the consensus estimate of $584.76 million. During the same period last year, the firm earned $0.12 EPS. The company’s revenue was up 1.4% on a year-over-year basis. Equities analysts forecast that Custom Truck One Source will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

Several institutional investors have recently bought and sold shares of the stock. Canvas Wealth Advisors LLC increased its holdings in Custom Truck One Source by 48.5% in the 4th quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock valued at $40,609,000 after acquiring an additional 2,303,504 shares during the last quarter. Boston Partners boosted its holdings in shares of Custom Truck One Source by 71.5% during the 2nd quarter. Boston Partners now owns 5,433,075 shares of the company’s stock valued at $26,849,000 after purchasing an additional 2,264,366 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Custom Truck One Source by 3,477.5% during the 4th quarter. M&T Bank Corp now owns 938,098 shares of the company’s stock valued at $5,403,000 after purchasing an additional 911,876 shares during the last quarter. First Trust Advisors LP grew its position in shares of Custom Truck One Source by 221.9% during the fourth quarter. First Trust Advisors LP now owns 1,222,875 shares of the company’s stock valued at $7,044,000 after purchasing an additional 842,964 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Custom Truck One Source by 42.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock valued at $14,401,000 after purchasing an additional 750,000 shares in the last quarter. 90.07% of the stock is owned by hedge funds and other institutional investors.

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.