Custom Truck One Source (NYSE:CTOS) Shares Down 7.3% – What’s Next?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) fell 7.3% during trading on Wednesday. The stock traded as low as $9.31 and last traded at $9.2280. Approximately 49,018 shares changed hands during trading, a decline of 95% from the average daily volume of 974,682 shares. The stock had previously closed at $9.96.

Wall Street Analysts Forecast Growth

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

Custom Truck One Source Stock Performance

The company has a current ratio of 1.34, a quick ratio of 0.29 and a debt-to-equity ratio of 2.03. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 103.11 and a beta of 1.43. The stock has a 50 day moving average price of $9.70 and a two-hundred day moving average price of $9.45.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Custom Truck One Source had a return on equity of 2.66% and a net margin of 1.05%.The business had revenue of $563.45 million during the quarter, compared to the consensus estimate of $509.76 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts predict that Custom Truck One Source, Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Custom Truck One Source by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock worth $36,806,000 after purchasing an additional 741,857 shares in the last quarter. First Trust Advisors LP increased its position in shares of Custom Truck One Source by 6.4% in the 1st quarter. First Trust Advisors LP now owns 1,301,351 shares of the company’s stock valued at $8,550,000 after buying an additional 78,476 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Custom Truck One Source by 154.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,056,550 shares of the company’s stock worth $6,942,000 after buying an additional 642,109 shares during the period. Heartland Advisors Inc. lifted its holdings in Custom Truck One Source by 42.9% during the first quarter. Heartland Advisors Inc. now owns 1,000,000 shares of the company’s stock worth $6,570,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Custom Truck One Source by 9.9% in the first quarter. Empowered Funds LLC now owns 810,115 shares of the company’s stock valued at $5,322,000 after acquiring an additional 72,935 shares during the period. Institutional investors own 90.07% of the company’s stock.

About Custom Truck One Source

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.