Custom Truck One Source (NYSE:CTOS) Given New $5.00 Price Target at Stifel Nicolaus

Custom Truck One Source (NYSE:CTOS) had its price target reduced by equities researchers at Stifel Nicolaus from $5.50 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 51.65% from the stock’s current price.

Separately, Oppenheimer raised their target price on shares of Custom Truck One Source from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th.

Custom Truck One Source Stock Performance

CTOS stock traded down $0.09 during trading hours on Wednesday, reaching $3.30. The stock had a trading volume of 58,896 shares, compared to its average volume of 670,327. The stock has a 50-day simple moving average of $4.67 and a 200 day simple moving average of $4.59. Custom Truck One Source has a fifty-two week low of $3.03 and a fifty-two week high of $6.11. The stock has a market capitalization of $743.97 million, a PE ratio of -20.72 and a beta of 0.83. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19.

Insiders Place Their Bets

In related news, major shareholder Pe One Source Holdings, Llc purchased 8,143,635 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the acquisition, the insider now directly owns 156,743,635 shares in the company, valued at $626,974,540. The trade was a 5.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Custom Truck One Source

Several institutional investors and hedge funds have recently made changes to their positions in CTOS. BNP Paribas Financial Markets bought a new stake in Custom Truck One Source in the 4th quarter valued at $29,000. R Squared Ltd acquired a new stake in shares of Custom Truck One Source during the fourth quarter worth $39,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Custom Truck One Source during the fourth quarter worth $56,000. Two Sigma Investments LP bought a new stake in shares of Custom Truck One Source in the fourth quarter valued at about $63,000. Finally, Platform Technology Partners acquired a new position in shares of Custom Truck One Source in the fourth quarter valued at about $66,000. Institutional investors and hedge funds 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).