Custom Truck One Source (NYSE:CTOS) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Custom Truck One Source (NYSE:CTOS) to a strong-buy rating in a research report released on Tuesday, MarketBeat Ratings reports.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price target on Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, March 11th. DA Davidson reissued a “buy” rating and set a $8.50 price target on shares of Custom Truck One Source in a research 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Custom Truck One Source currently has a consensus rating of “Hold” and an average target price of $8.00.

Custom Truck One Source Stock Performance

NYSE CTOS opened at $8.35 on Tuesday. Custom Truck One Source has a 1-year low of $3.67 and a 1-year high of $8.46. The company has a market capitalization of $1.89 billion, a P/E ratio of -55.63 and a beta of 1.12. The business has a 50 day moving average price of $6.87 and a 200 day moving average price 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.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Tuesday, March 10th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Custom Truck One Source had a negative return on equity of 3.88% and a negative net margin of 1.60%.The firm had revenue of $528.18 million during the quarter, compared to the consensus estimate of $584.76 million. During the same period last year, the business posted $0.12 EPS. Custom Truck One Source’s quarterly revenue was up 1.4% on a year-over-year basis. Sell-side analysts expect that Custom Truck One Source will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

Several hedge funds have recently bought and sold shares of the stock. M&T Bank Corp increased its position in Custom Truck One Source by 7.6% during the second quarter. M&T Bank Corp now owns 26,222 shares of the company’s stock worth $130,000 after buying an additional 1,848 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Custom Truck One Source by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company’s stock valued at $185,000 after purchasing an additional 2,371 shares during the period. Stoneridge Investment Partners LLC grew its position in shares of Custom Truck One Source by 8.2% in the third quarter. Stoneridge Investment Partners LLC now owns 32,813 shares of the company’s stock valued at $211,000 after purchasing an additional 2,478 shares during the period. Legal & General Group Plc grew its position in shares of 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 purchasing an additional 2,692 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Custom Truck One Source by 9.5% in the second quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company’s stock valued at $157,000 after purchasing an additional 2,773 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.

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.