Custom Truck One Source (NYSE:CTOS) Shares Gap Up Following Insider Buying Activity

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $4.17, but opened at $4.42. Custom Truck One Source shares last traded at $4.42, with a volume of 188,439 shares trading hands.

Specifically, Director Marshall Heinberg bought 40,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $4.07 per share, with a total value of $162,800.00. Following the purchase, the director now owns 293,856 shares in the company, valued at $1,195,993.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Custom Truck One Source news, Director Marshall Heinberg acquired 40,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were bought at an average price of $4.07 per share, with a total value of $162,800.00. Following the purchase, the director now directly owns 293,856 shares of the company’s stock, valued at approximately $1,195,993.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Eperjesy acquired 20,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $3.90 per share, for a total transaction of $78,000.00. Following the purchase, the chief financial officer now directly owns 176,962 shares in the company, valued at $690,151.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 63,000 shares of company stock valued at $253,160. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

CTOS has been the topic of several recent research reports. Robert W. Baird lowered their price objective on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. dropped their target price on shares of Custom Truck One Source from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.00.

Custom Truck One Source Stock Performance

The firm’s 50-day moving average price is $5.45 and its two-hundred day moving average price is $5.90. The firm has a market capitalization of $1.09 billion, a PE ratio of 43.90, a P/E/G ratio of 0.79 and a beta of 0.69. The company has a quick ratio of 0.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.66.

Custom Truck One Source (NYSE:CTOS) last released its earnings results on Thursday, May 2nd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The firm had revenue of $411.31 million during the quarter, compared to analysts’ expectations of $455.98 million. Custom Truck One Source had a return on equity of 2.48% and a net margin of 1.24%. The business’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. As a group, research analysts predict that Custom Truck One Source, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of Custom Truck One Source

Institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of Custom Truck One Source during the third quarter worth approximately $31,000. Koshinski Asset Management Inc. acquired a new stake in Custom Truck One Source in the first quarter valued at approximately $58,000. Sherbrooke Park Advisers LLC acquired a new stake in Custom Truck One Source in the third quarter valued at approximately $89,000. Arbor Wealth Advisors LLC acquired a new stake in Custom Truck One Source in the fourth quarter valued at approximately $94,000. Finally, Tower Research Capital LLC TRC lifted its stake in Custom Truck One Source by 851.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,011 shares of the company’s stock valued at $99,000 after acquiring an additional 14,328 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

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).