Custom Truck One Source, Inc. $CTOS Holdings Cut by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC trimmed its stake in shares of Custom Truck One Source, Inc. (NYSE:CTOS) by 14.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,982,649 shares of the company’s stock after selling 1,036,877 shares during the period. Custom Truck One Source accounts for 9.9% of Canvas Wealth Advisors LLC’s holdings, making the stock its biggest position. Canvas Wealth Advisors LLC’s holdings in Custom Truck One Source were worth $70,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC purchased a new stake in shares of Custom Truck One Source during the fourth quarter worth about $28,000. BNP Paribas Financial Markets lifted its stake in Custom Truck One Source by 92.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after buying an additional 2,809 shares in the last quarter. Quantbot Technologies LP purchased a new position in Custom Truck One Source in the 2nd quarter valued at about $35,000. Jane Street Group LLC acquired a new stake in Custom Truck One Source in the 2nd quarter worth about $58,000. Finally, AQR Capital Management LLC acquired a new stake in Custom Truck One Source in the 1st quarter worth about $63,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Stock Performance

NYSE:CTOS opened at $10.63 on Wednesday. The company has a market cap of $2.42 billion, a P/E ratio of 118.10 and a beta of 1.38. Custom Truck One Source, Inc. has a twelve month low of $5.18 and a twelve month high of $12.23. The company’s 50-day moving average price is $10.61 and its 200-day moving average price is $8.67. The company has a current ratio of 1.34, a quick ratio of 0.29 and a debt-to-equity ratio of 2.03.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $563.45 million during the quarter, compared to analysts’ expectations of $509.76 million. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. Custom Truck One Source’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) EPS. On average, sell-side analysts forecast that Custom Truck One Source, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CTOS. Cantor Fitzgerald increased their target price 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. JPMorgan Chase & Co. lifted their price target on Custom Truck One Source from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 29th. Robert W. Baird lifted their price target on Custom Truck One Source from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Zacks Research upgraded Custom Truck One Source from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Custom Truck One Source currently has an average rating of “Moderate Buy” and a consensus target price of $11.21.

Custom Truck One Source 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.