Custom Truck One Source (NYSE:CTOS) Stock Rating Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Custom Truck One Source from “strong buy” to “hold.” Other analysts remain mixed, resulting in a consensus “hold” rating and an average price target of $12.00.
• CTOS shares opened at $9.96, up 0.8%, with a 12-month range of $5.18 to $12.23. The company has a $2.27 billion market capitalization and elevated leverage, with a debt-to-equity ratio of 2.03.
• Recent quarterly results exceeded expectations: earnings per share were $0.05 versus a $0.01 estimate, while revenue rose 10.2% year over year to $563.45 million. Institutional investors own approximately 90.07% of the company.

Custom Truck One Source (NYSE:CTOS - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities analysts have also recently issued reports on CTOS. Oppenheimer raised their price objective on Custom Truck One Source from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. DA Davidson reaffirmed a "buy" rating and issued a $13.00 target price on shares of Custom Truck One Source in a research report on Tuesday, September 15th. Cantor Fitzgerald raised their target price on Custom Truck One Source from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Weiss Ratings raised shares of Custom Truck One Source from a "sell (d-)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd. Finally, Robert W. Baird upped their price target 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 research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.00.

Custom Truck One Source Trading Up 0.8%

NYSE CTOS opened at $9.96 on Monday. Custom Truck One Source has a 12 month low of $5.18 and a 12 month high of $12.23. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.34 and a quick ratio of 0.29. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 110.63 and a beta of 1.43. The company's fifty day moving average price is $9.70 and its two-hundred day moving average price is $9.45.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $563.45 million during the quarter, compared to analyst estimates of $509.76 million. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned ($0.13) EPS. As a group, research analysts predict that Custom Truck One Source will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC bought a new position in Custom Truck One Source during the 2nd quarter valued at $987,000. Integrated Wealth Concepts LLC bought a new position in Custom Truck One Source during the second quarter valued at about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Custom Truck One Source during the second quarter worth about $791,000. Bank of New York Mellon Corp bought a new stake in Custom Truck One Source in the second quarter worth about $1,842,000. Finally, Empowered Funds LLC lifted its holdings in Custom Truck One Source by 9.9% in the 1st quarter. Empowered Funds LLC now owns 810,115 shares of the company's stock valued at $5,322,000 after acquiring an additional 72,935 shares during the last quarter. Institutional investors and hedge funds own 90.07% of the company's stock.

About Custom Truck One Source

Custom Truck One Source, Inc is a specialty equipment provider serving the utility, telecommunications, rail, infrastructure, vegetation management and related industrial markets. The company sells, rents and services new and used equipment designed for field operations, including aerial devices, bucket trucks, digger derricks, cranes, construction equipment, trailers and rail-based equipment.

In addition to equipment sales and rentals, Custom Truck One Source provides parts, maintenance, repair, refurbishment and other support services.

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