Custom Truck One Source (NYSE:CTOS) Shares Gap Up – What’s Next?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) gapped up prior to trading on Tuesday . The stock had previously closed at $7.88, but opened at $8.25. Custom Truck One Source shares last traded at $8.3770, with a volume of 102,316 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CTOS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Monday. DA Davidson reissued a “buy” rating and issued a $8.50 target price on shares of Custom Truck One Source in a research note on Wednesday, March 11th. JPMorgan Chase & Co. lowered their target price on shares of Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, March 11th. Finally, Cantor Fitzgerald assumed coverage on shares of Custom Truck One Source in a research note on Tuesday. They set an “overweight” rating and a $11.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.00.

Custom Truck One Source Stock Up 0.5%

The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -56.09 and a beta of 1.12. The firm has a fifty day simple moving average of $6.89 and a 200-day simple moving average of $6.43. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.26 and a current ratio of 1.33.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $528.18 million during the quarter, compared to the consensus estimate of $584.76 million. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. Custom Truck One Source’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, sell-side analysts expect that Custom Truck One Source, Inc. will post 0.03 EPS for the current year.

Hedge Funds Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently modified their holdings of the business. EFG Asset Management North America Corp. acquired a new position in Custom Truck One Source in the 3rd quarter valued at $1,762,000. Canvas Wealth Advisors LLC lifted its position in Custom Truck One Source by 48.5% during the fourth quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company’s stock worth $40,609,000 after purchasing an additional 2,303,504 shares during the period. Portolan Capital Management LLC acquired a new stake in Custom Truck One Source during the third quarter worth about $4,167,000. Sapient Capital LLC acquired a new stake in Custom Truck One Source during the third quarter worth about $810,000. Finally, Citigroup Inc. increased its holdings in Custom Truck One Source by 320.8% in the 3rd quarter. Citigroup Inc. now owns 399,321 shares of the company’s stock valued at $2,564,000 after buying an additional 304,427 shares during the period. 90.07% of the stock is currently owned by institutional investors and hedge funds.

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.