Custom Truck One Source (NYSE:CTOS) Announces Quarterly Earnings Results

Custom Truck One Source (NYSE:CTOS) posted its quarterly earnings data on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04, FiscalAI reports. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.68%. The firm had revenue of $563.45 million during the quarter, compared to the consensus estimate of $509.76 million. During the same quarter in the previous year, the firm posted ($0.13) EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year.

Custom Truck One Source Price Performance

Custom Truck One Source stock opened at $10.95 on Wednesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.25 and a current ratio of 1.30. Custom Truck One Source has a 52 week low of $5.18 and a 52 week high of $12.23. The stock has a market capitalization of $2.48 billion, a P/E ratio of -121.64 and a beta of 1.38. The stock has a fifty day moving average of $10.51 and a 200-day moving average of $8.52.

Institutional Trading of Custom Truck One Source

Several large investors have recently bought and sold shares of the business. Invesco Ltd. grew its position in Custom Truck One Source by 9.0% in the fourth quarter. Invesco Ltd. now owns 236,927 shares of the company’s stock valued at $1,365,000 after acquiring an additional 19,660 shares during the last quarter. Empowered Funds LLC increased its position in Custom Truck One Source by 130.1% during the 4th quarter. Empowered Funds LLC now owns 737,180 shares of the company’s stock worth $4,246,000 after purchasing an additional 416,833 shares in the last quarter. nVerses Capital LLC acquired a new stake in Custom Truck One Source in the fourth quarter valued at approximately $232,000. Oxford Asset Management LLP bought a new stake in shares of Custom Truck One Source during the fourth quarter worth $138,000. Finally, Millennium Management LLC acquired a new position in shares of Custom Truck One Source during the fourth quarter worth $1,831,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTOS has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Custom Truck One Source from $6.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, April 29th. DA Davidson reiterated a “buy” rating and set a $8.50 target price on shares of Custom Truck One Source in a research report on Tuesday, April 28th. Stifel Nicolaus raised their price target on Custom Truck One Source from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald boosted their price target on Custom Truck One Source from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Capital One Financial set a $13.00 price objective on shares of Custom Truck One Source in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Custom Truck One Source presently has a consensus rating of “Hold” and a consensus price target of $10.93.

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.