Custom Truck One Source (NYSE:CTOS) Stock Price Down 5.5% – Here’s What Happened

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price was down 5.5% during trading on Monday . The stock traded as low as $4.66 and last traded at $4.66. Approximately 79,487 shares were traded during trading, a decline of 87% from the average daily volume of 608,852 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reduced their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Custom Truck One Source currently has a consensus rating of “Moderate Buy” and an average target price of $5.63.

Custom Truck One Source Stock Up 1.5 %

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 firm’s 50-day moving average price is $4.80 and its 200 day moving average price is $4.37. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -30.13 and a beta of 0.78.

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

Institutional Trading of Custom Truck One Source

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in Custom Truck One Source by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 266,415 shares of the company’s stock valued at $1,159,000 after acquiring an additional 11,964 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Custom Truck One Source by 190.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after buying an additional 3,234,586 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Custom Truck One Source in the 2nd quarter valued at about $47,000. Black Diamond Financial LLC grew its stake in shares of Custom Truck One Source by 16.5% during the second quarter. Black Diamond Financial LLC now owns 141,735 shares of the company’s stock valued at $617,000 after acquiring an additional 20,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Custom Truck One Source by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock worth $9,770,000 after acquiring an additional 410,895 shares during the last quarter. 90.07% 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 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).