Custom Truck One Source (NYSE:CTOS) Hits New 1-Year High – Still a Buy?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) hit a new 52-week high during trading on Monday . The stock traded as high as $7.78 and last traded at $7.8150, with a volume of 98798 shares traded. The stock had previously closed at $7.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTOS shares. Cantor Fitzgerald assumed coverage on shares of Custom Truck One Source in a report on Tuesday. They issued an “overweight” rating and a $11.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 11th. DA Davidson reiterated a “buy” rating and issued a $8.50 target price on shares of Custom Truck One Source in a report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Monday. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.00.

Custom Truck One Source Stock Up 0.5%

The firm has a 50-day simple moving average of $6.87 and a 200 day simple moving average of $6.42. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26. The company has a market capitalization of $1.91 billion, a PE ratio of -55.90 and a beta of 1.12.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Tuesday, March 10th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $528.18 million during the quarter, compared to analyst estimates of $584.76 million. Custom Truck One Source had a negative return on equity of 3.88% and a negative net margin of 1.60%.The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. On average, research analysts predict that Custom Truck One Source, Inc. will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC acquired a new stake in Custom Truck One Source during the 4th quarter valued at $28,000. BNP Paribas Financial Markets grew its stake in shares of Custom Truck One Source by 92.1% during the second quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after acquiring an additional 2,809 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Custom Truck One Source during the second quarter worth about $35,000. Oak Thistle LLC purchased a new stake in shares of Custom Truck One Source during the fourth quarter worth about $58,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Custom Truck One Source in the fourth quarter worth about $67,000. 90.07% of the stock is currently 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.