Custom Truck One Source (NYSE:CTOS) Trading Up 8.6% – What’s Next?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) were up 8.6% on Friday . The company traded as high as $5.71 and last traded at $5.70. Approximately 634,080 shares were traded during trading, an increase of 5% from the average daily volume of 603,000 shares. The stock had previously closed at $5.25.

Wall Street Analyst Weigh In

Separately, Oppenheimer lowered their price target on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.63.

Custom Truck One Source Price Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -35.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The stock’s 50 day simple moving average is $3.95 and its two-hundred day simple moving average is $4.25.

Custom Truck One Source (NYSE:CTOS) last issued its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The business had revenue of $447.22 million for the quarter, compared to analyst estimates of $448.46 million. During the same quarter last year, the firm posted $0.04 earnings per share. Custom Truck One Source’s revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other Custom Truck One Source news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of Custom Truck One Source stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the completion of the transaction, the insider now directly owns 23,384,879 shares of the company’s stock, valued at approximately $79,976,286.18. This trade represents a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Energy Capital Partners Manage sold 18,640 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total transaction of $77,728.80. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Custom Truck One Source

Several hedge funds have recently modified their holdings of CTOS. Barclays PLC grew its holdings in shares of Custom Truck One Source by 349.6% during the third quarter. Barclays PLC now owns 84,526 shares of the company’s stock worth $291,000 after purchasing an additional 65,725 shares during the last quarter. Jane Street Group LLC lifted its position in Custom Truck One Source by 4.9% during the 3rd quarter. Jane Street Group LLC now owns 89,432 shares of the company’s stock worth $309,000 after buying an additional 4,155 shares in the last quarter. Paloma Partners Management Co grew its holdings in Custom Truck One Source by 17.5% during the 3rd quarter. Paloma Partners Management Co now owns 256,146 shares of the company’s stock worth $884,000 after acquiring an additional 38,242 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Custom Truck One Source by 15.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock valued at $378,000 after acquiring an additional 14,906 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Custom Truck One Source by 1,234.8% in the third quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after acquiring an additional 26,685 shares during the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

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).