Custom Truck One Source (NYSE:CTOS) Shares Break Above 50 Day Moving Average – Here’s What Happened

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $9.45 and traded as high as $10.16. Custom Truck One Source shares last traded at $10.0060, with a volume of 1,496,887 shares changing hands.

Wall Street Analyst Weigh In

CTOS has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of Custom Truck One Source in a research note on Tuesday, October 27th. DA Davidson restated a “buy” rating and issued a $13.00 price objective on shares of Custom Truck One Source in a report on Tuesday, October 27th. Zacks Research lowered shares of Custom Truck One Source from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings cut shares of Custom Truck One Source from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, October 27th. Finally, Robert W. Baird boosted 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. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.00.

Custom Truck One Source Price Performance

The company’s 50-day simple moving average is $9.50 and its 200 day simple moving average is $8.98. The company has a quick ratio of 0.25, a current ratio of 1.28 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 79.68 and a beta of 1.46.

Custom Truck One Source (NYSE:CTOS) last announced its quarterly earnings results on Monday, October 26th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $495.22 million during the quarter, compared to analysts’ expectations of $516.51 million. Custom Truck One Source had a return on equity of 3.63% and a net margin of 1.44%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Equities research analysts forecast that Custom Truck One Source, Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Custom Truck One Source

A number of large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Custom Truck One Source in the second quarter valued at approximately $28,000. Group One Trading LLC lifted its stake in shares of Custom Truck One Source by 680.0% in the third quarter. Group One Trading LLC now owns 3,900 shares of the company’s stock worth $36,000 after buying an additional 3,400 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Custom Truck One Source by 27.0% in the first quarter. Quantinno Capital Management LP now owns 19,628 shares of the company’s stock worth $129,000 after buying an additional 4,174 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Custom Truck One Source during the 3rd quarter worth $94,000. Finally, Entropy Technologies LP bought a new stake in shares of Custom Truck One Source during the 1st quarter worth $111,000. Institutional investors own 90.07% of the company’s stock.

About Custom Truck One Source

Custom Truck One Source, Inc. provides specialized trucks and equipment, along with rental, sales, parts and service for customers in utility, telecommunications, rail, forestry and other infrastructure-related industries. The company serves customers across North America. Its offerings include aerial lifts, bucket trucks, digger derricks, cranes, forestry equipment and rail equipment. Customers can rent or buy new and used equipment, and the company also provides maintenance, repair, refurbishment and equipment customization services.