Custom Truck One Source (NYSE:CTOS) Reaches New 1-Year High – Time to Buy?

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $11.38 and last traded at $11.3570, with a volume of 2381 shares changing hands. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

CTOS has been the topic of a number of recent research reports. Capital One Financial set a $13.00 target price on Custom Truck One Source in a report on Tuesday, May 26th. Stifel Nicolaus increased their price target on 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. Oppenheimer reissued an “outperform” rating and issued a $11.00 price target on shares of Custom Truck One Source in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Custom Truck One Source in a report on Monday, April 20th. Finally, Cantor Fitzgerald upped their price objective on shares of Custom Truck One Source from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Four 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. Based on data from MarketBeat, Custom Truck One Source presently has a consensus rating of “Hold” and an average target price of $10.14.

Custom Truck One Source Price Performance

The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 2.02. The stock has a 50-day simple moving average of $9.39 and a 200 day simple moving average of $7.49. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -125.56 and a beta of 1.37.

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

Hedge Funds Weigh In On Custom Truck One Source

A number of hedge funds have recently modified their holdings of CTOS. M&T Bank Corp grew its stake in Custom Truck One Source by 3,477.5% in the fourth 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 in the last quarter. Canvas Wealth Advisors LLC raised 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 purchasing an additional 2,303,504 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in shares of Custom Truck One Source during the 3rd quarter worth about $4,167,000. Citigroup Inc. lifted its holdings in shares of Custom Truck One Source by 320.8% during the 3rd quarter. Citigroup Inc. now owns 399,321 shares of the company’s stock valued at $2,564,000 after buying an additional 304,427 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Custom Truck One Source by 38.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 774,436 shares of the company’s stock valued at $4,972,000 after buying an additional 216,083 shares during the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.

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.