Custom Truck One Source (NYSE:CTOS) Sets New 1-Year High – Here’s Why

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) reached a new 52-week high on Monday . The company traded as high as $10.24 and last traded at $10.1670, with a volume of 493220 shares. The stock had previously closed at $9.68.

Wall Street Analysts Forecast Growth

CTOS has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $11.00 target price on shares of Custom Truck One Source in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on Custom Truck One Source from $6.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, April 29th. Capital One Financial set a $13.00 price objective on Custom Truck One Source in a report on Tuesday, May 26th. Stifel Nicolaus lifted their price objective on Custom Truck One Source from $8.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald lifted their price objective on Custom Truck One Source from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, one has given 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 $10.14.

Custom Truck One Source Stock Up 6.5%

The business’s 50 day moving average price is $8.58 and its 200-day moving average price is $7.15. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.30 and a quick ratio of 0.25. The company has a market cap of $2.34 billion, a P/E ratio of -115.00 and a beta of 1.37.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly 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. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%. The business had revenue of $461.62 million during the quarter, compared to analyst estimates of $452.67 million. During the same quarter last year, the business posted ($0.08) earnings per share. Custom Truck One Source’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Custom Truck One Source, Inc. will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. M&T Bank Corp raised its position in Custom Truck One Source by 7.6% in the 2nd quarter. M&T Bank Corp now owns 26,222 shares of the company’s stock worth $130,000 after purchasing an additional 1,848 shares during the last quarter. R Squared Ltd grew its position in shares of Custom Truck One Source by 14.2% during the 1st quarter. R Squared Ltd now owns 18,894 shares of the company’s stock worth $124,000 after buying an additional 2,349 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Custom Truck One Source by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company’s stock worth $185,000 after buying an additional 2,371 shares during the period. Legal & General Group Plc boosted its stake in Custom Truck One Source by 4.6% in the third quarter. Legal & General Group Plc now owns 60,973 shares of the company’s stock valued at $391,000 after acquiring an additional 2,692 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Custom Truck One Source by 9.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock worth $157,000 after acquiring an additional 2,773 shares during the period. Institutional investors own 90.07% of the company’s stock.

About Custom Truck One Source

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.