Custom Truck One Source (NYSE:CTOS) Sees Strong Trading Volume

Custom Truck One Source, Inc. (NYSE:CTOS) saw unusually-strong trading volume on Friday . Approximately 1,725,106 shares changed hands during mid-day trading, an increase of 421% from the previous session’s volume of 330,993 shares.The stock last traded at $5.58 and had previously closed at $5.22.

Analyst Upgrades and Downgrades

CTOS has been the topic of several research reports. Oppenheimer reduced their price target on shares of Custom Truck One Source from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Custom Truck One Source from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Citigroup reduced their price objective on Custom Truck One Source from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Custom Truck One Source from $7.50 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.20.

Custom Truck One Source Price Performance

The stock’s 50 day moving average price is $5.95 and its 200-day moving average price is $6.43. The company has a quick ratio of 0.28, a current ratio of 1.35 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $1.39 billion, a PE ratio of 18.64 and a beta of 0.64.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Custom Truck One Source had a net margin of 3.58% and a return on equity of 7.82%. The company had revenue of $434.35 million for the quarter, compared to the consensus estimate of $418.05 million. During the same period in the prior year, the firm posted ($0.01) EPS. The business’s revenue was up 21.4% on a year-over-year basis. As a group, equities analysts forecast that Custom Truck One Source, Inc. will post 0.25 EPS for the current year.

Insider Activity

In other news, Director Ecp Controlco, Llc sold 41,140 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $6.51, for a total value of $267,821.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ecp Controlco, Llc sold 41,140 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $6.51, for a total transaction of $267,821.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marshall Heinberg bought 15,000 shares of the stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $4.79 per share, with a total value of $71,850.00. Following the completion of the purchase, the director now owns 220,304 shares of the company’s stock, valued at $1,055,256.16. The disclosure for this purchase can be found here. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Custom Truck One Source

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its position in Custom Truck One Source by 117.8% during the 3rd quarter. Lazard Asset Management LLC now owns 4,959 shares of the company’s stock worth $30,000 after acquiring an additional 2,682 shares during the period. Register Financial Advisors LLC lifted its holdings in shares of Custom Truck One Source by 66.7% during the third quarter. Register Financial Advisors LLC now owns 5,000 shares of the company’s stock worth $31,000 after purchasing an additional 2,000 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Custom Truck One Source in the third quarter valued at approximately $31,000. Advisor Group Holdings Inc. boosted its position in Custom Truck One Source by 214.1% in the first quarter. Advisor Group Holdings Inc. now owns 3,666 shares of the company’s stock valued at $31,000 after buying an additional 2,499 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Custom Truck One Source by 107.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,480 shares of the company’s stock valued at $44,000 after acquiring an additional 3,877 shares during the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Custom Truck One Source Company Profile

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