Custom Truck One Source (NYSE:CTOS) Downgraded by Zacks Research to “Hold”

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

A number of other brokerages have also recently commented on CTOS. Weiss Ratings upgraded Custom Truck One Source from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Robert W. Baird raised their price target on Custom Truck One Source from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Oppenheimer raised their target price on shares of Custom Truck One Source from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Cantor Fitzgerald boosted their price target on shares of Custom Truck One Source from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, DA Davidson reaffirmed a “buy” rating and set a $13.00 price target on shares of Custom Truck One Source in a research note on Tuesday, September 15th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.00.

Custom Truck One Source Stock Performance

Shares of CTOS stock opened at $9.96 on Monday. Custom Truck One Source has a one year low of $5.18 and a one year high of $12.23. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 110.63 and a beta of 1.43. The company’s 50-day moving average is $9.70 and its 200 day moving average is $9.45. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.29 and a current ratio of 1.34.

Custom Truck One Source (NYSE:CTOS) last posted 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. The business had revenue of $563.45 million for the quarter, compared to analysts’ expectations of $509.76 million. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) EPS. Sell-side analysts expect that Custom Truck One Source will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Custom Truck One Source in the 2nd quarter valued at about $28,000. Entropy Technologies LP purchased a new position in shares of Custom Truck One Source in the 1st quarter valued at approximately $111,000. R Squared Ltd lifted its stake in shares of Custom Truck One Source by 14.2% during the first quarter. R Squared Ltd now owns 18,894 shares of the company’s stock worth $124,000 after buying an additional 2,349 shares during the period. Lazard Asset Management LLC acquired a new stake in Custom Truck One Source during the 1st quarter worth about $125,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Custom Truck One Source by 27.0% during the first quarter. Quantinno Capital Management LP now owns 19,628 shares of the company’s stock worth $129,000 after purchasing an additional 4,174 shares during the period. 90.07% of the stock is owned by hedge funds and other institutional investors.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc is a specialty equipment provider serving the utility, telecommunications, rail, infrastructure, vegetation management and related industrial markets. The company sells, rents and services new and used equipment designed for field operations, including aerial devices, bucket trucks, digger derricks, cranes, construction equipment, trailers and rail-based equipment.

In addition to equipment sales and rentals, Custom Truck One Source provides parts, maintenance, repair, refurbishment and other support services.