Custom Truck One Source (NYSE:CTOS) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Custom Truck One Source (NYSE:CTOS) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other analysts also recently commented on the stock. Oppenheimer upped their price target on shares of Custom Truck One Source from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday. Capital One Financial set a $13.00 price objective on shares of Custom Truck One Source in a research report on Tuesday, May 26th. Robert W. Baird lifted their price objective on shares of Custom Truck One Source from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday. DA Davidson restated a “buy” rating and issued a $8.50 price objective on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.21.

Custom Truck One Source Stock Down 0.3%

Shares of NYSE:CTOS opened at $10.99 on Wednesday. The firm’s 50 day moving average price is $10.55 and its 200 day moving average price is $8.58. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 122.13 and a beta of 1.38. Custom Truck One Source has a fifty-two week low of $5.18 and a fifty-two week high of $12.23. The company has a quick ratio of 0.25, a current ratio of 1.34 and a debt-to-equity ratio of 2.03.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results 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. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. The business had revenue of $563.45 million during the quarter, compared to analysts’ expectations of $509.76 million. During the same quarter in the prior year, the business posted ($0.13) EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Custom Truck One Source will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

Several large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Custom Truck One Source during the first quarter worth $71,000. AQR Capital Management LLC acquired a new position in Custom Truck One Source in the 1st quarter valued at $63,000. Goldman Sachs Group Inc. increased its stake in Custom Truck One Source by 223.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company’s stock valued at $2,235,000 after buying an additional 365,862 shares during the period. Envestnet Asset Management Inc. raised its position 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 buying an additional 2,773 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Custom Truck One Source by 16.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,422 shares of the company’s stock worth $145,000 after buying an additional 4,058 shares during the last quarter. Hedge funds and other 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.