Custom Truck One Source (NYSE:CTOS) Reaches New 12-Month High – Still a Buy?

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price hit a new 52-week high on Monday . The company traded as high as $10.94 and last traded at $10.8860, with a volume of 1279 shares trading hands. The stock had previously closed at $10.66.

Analyst Upgrades and Downgrades

CTOS has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Monday, April 20th. Stifel Nicolaus increased their price target on shares of Custom Truck One Source from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. DA Davidson reissued a “buy” rating and set a $8.50 target price on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Capital One Financial set a $13.00 target price on Custom Truck One Source in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. increased their target price on Custom Truck One Source from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.14.

Custom Truck One Source Trading Up 0.8%

The company has a market capitalization of $2.41 billion, a P/E ratio of -118.29 and a beta of 1.37. The business has a fifty day moving average price of $9.14 and a 200 day moving average price of $7.39. The company has a quick ratio of 0.25, a current ratio of 1.30 and a debt-to-equity ratio of 2.02.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Monday, April 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Custom Truck One Source had a negative return on equity of 2.18% and a negative net margin of 0.88%.The business had revenue of $461.62 million during the quarter, compared to the consensus estimate of $452.67 million. During the same period last year, the company earned ($0.08) earnings per share. Custom Truck One Source’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Custom Truck One Source, Inc. will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

Several hedge funds have recently made changes to their positions in CTOS. Canvas Wealth Advisors LLC grew its stake in shares of Custom Truck One Source by 48.5% during the 4th quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock worth $40,609,000 after acquiring an additional 2,303,504 shares in the last quarter. M&T Bank Corp grew its stake 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 worth $5,403,000 after acquiring an additional 911,876 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Custom Truck One Source by 221.9% during the 4th quarter. First Trust Advisors LP now owns 1,222,875 shares of the company’s stock worth $7,044,000 after acquiring an additional 842,964 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Custom Truck One Source by 42.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock worth $14,401,000 after acquiring an additional 750,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Custom Truck One Source by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock worth $36,806,000 after acquiring an additional 741,857 shares in the last quarter. 90.07% of the stock is owned by 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.