Custom Truck One Source, Inc. (NYSE:CTOS) Sees Large Decrease in Short Interest

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 4,810,000 shares, a decline of 5.5% from the September 15th total of 5,090,000 shares. Approximately 8.8% of the shares of the company are short sold. Based on an average daily trading volume, of 649,000 shares, the days-to-cover ratio is currently 7.4 days.

Wall Street Analyst Weigh In

CTOS has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price objective on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Oppenheimer cut their price objective on Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.88.

Insider Buying and Selling at Custom Truck One Source

In other news, insider Thomas R. Rich bought 26,200 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $3.84 per share, for a total transaction of $100,608.00. Following the completion of the purchase, the insider now directly owns 224,778 shares in the company, valued at $863,147.52. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Thomas R. Rich acquired 26,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $3.84 per share, for a total transaction of $100,608.00. Following the purchase, the insider now owns 224,778 shares in the company, valued at $863,147.52. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $3.42, for a total value of $8,051,052.78. Following the sale, the insider now owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Custom Truck One Source in the 3rd quarter worth $64,000. Maven Securities LTD bought a new position in Custom Truck One Source in the 2nd quarter worth $2,175,000. First Eagle Investment Management LLC bought a new position in Custom Truck One Source in the 2nd quarter worth $1,328,000. Dimensional Fund Advisors LP raised its holdings in Custom Truck One Source by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock worth $9,770,000 after purchasing an additional 410,895 shares during the period. Finally, Black Diamond Financial LLC raised its holdings in Custom Truck One Source by 16.5% in the 2nd quarter. Black Diamond Financial LLC now owns 141,735 shares of the company’s stock worth $617,000 after purchasing an additional 20,100 shares during the period. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Custom Truck One Source Stock Down 0.7 %

Shares of NYSE:CTOS opened at $3.37 on Friday. Custom Truck One Source has a 52-week low of $3.03 and a 52-week high of $7.00. The firm has a market capitalization of $809.01 million, a P/E ratio of 33.65 and a beta of 0.62. The stock has a 50 day moving average price of $3.77 and a 200-day moving average price of $4.40. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.20 and a current ratio of 1.30.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Custom Truck One Source had a negative return on equity of 1.51% and a negative net margin of 0.75%. The firm had revenue of $423.00 million during the quarter, compared to the consensus estimate of $456.23 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue was down 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that Custom Truck One Source will post -0.12 EPS for the current fiscal year.

About Custom Truck One Source

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).