Custom Truck One Source (NYSE:CTOS) Sees Large Volume Increase – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) shares saw strong trading volume on Wednesday . 544,189 shares traded hands during trading, a decline of 18% from the previous session’s volume of 662,042 shares.The stock last traded at $5.14 and had previously closed at $5.02.

Analyst Ratings Changes

Separately, Oppenheimer reduced their price objective on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th.

Custom Truck One Source Price Performance

The company has a market capitalization of $1.20 billion, a P/E ratio of -32.16 and a beta of 0.79. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The company has a fifty day moving average price of $5.11 and a 200 day moving average price of $4.42.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The company had revenue of $447.22 million during the quarter, compared to analyst estimates of $448.46 million. During the same period in the prior year, the business earned $0.04 earnings per share. Custom Truck One Source’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Custom Truck One Source, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Custom Truck One Source during the 2nd quarter valued at about $47,000. Intech Investment Management LLC acquired a new position in shares of Custom Truck One Source during the third quarter valued at approximately $56,000. SG Americas Securities LLC bought a new stake in Custom Truck One Source during the third quarter worth approximately $64,000. FMR LLC lifted its position in Custom Truck One Source by 1,234.8% in the third quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after purchasing an additional 26,685 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in Custom Truck One Source by 20.5% during the 3rd quarter. D.A. Davidson & CO. now owns 29,240 shares of the company’s stock valued at $101,000 after purchasing an additional 4,975 shares in the last quarter. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).