DA Davidson Reiterates "Buy" Rating for Custom Truck One Source (NYSE:CTOS)

Key Points

• DA Davidson reiterated its “Buy” rating on Custom Truck One Source and maintained a $13 price target, implying approximately 47.7% upside from the prior close.
• Analyst sentiment is generally positive, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of $12, despite some sell and hold ratings.
• Custom Truck One Source exceeded quarterly expectations, reporting $0.05 in earnings per share versus a $0.01 consensus estimate and revenue of $563.45 million, up 10.2% year over year.

Custom Truck One Source (NYSE:CTOS - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at DA Davidson in a research note issued on Tuesday, Benzinga reports. They currently have a $13.00 price objective on the stock. DA Davidson's price objective would suggest a potential upside of 47.71% from the company's previous close.

Several other analysts have also weighed in on CTOS. Weiss Ratings restated a "sell (d-)" rating on shares of Custom Truck One Source in a report on Friday, July 17th. Cantor Fitzgerald boosted their price target on shares of Custom Truck One Source from $13.00 to $14.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. Zacks Research raised shares of Custom Truck One Source from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Robert W. Baird raised their price objective on shares of Custom Truck One Source from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Finally, Oppenheimer lifted their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.00.

Custom Truck One Source Stock Down 0.1%

CTOS stock opened at $8.80 on Tuesday. The firm's 50-day moving average is $10.02 and its two-hundred day moving average is $9.13. The company has a current ratio of 1.34, a quick ratio of 0.29 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 97.94 and a beta of 1.35. Custom Truck One Source has a 52 week low of $5.18 and a 52 week high of $12.23.

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

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors have recently bought and sold shares of CTOS. R Squared Ltd lifted its stake in Custom Truck One Source by 14.2% in the 1st quarter. R Squared Ltd now owns 18,894 shares of the company's stock worth $124,000 after acquiring an additional 2,349 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Custom Truck One Source in the 2nd quarter valued at approximately $28,000. Quantinno Capital Management LP grew its stake in shares of Custom Truck One Source by 27.0% in the 1st quarter. Quantinno Capital Management LP now owns 19,628 shares of the company's stock valued at $129,000 after buying an additional 4,174 shares in the last quarter. Entropy Technologies LP acquired a new position in Custom Truck One Source in the first quarter worth approximately $111,000. Finally, Lazard Asset Management LLC bought a new position in Custom Truck One Source during the first quarter valued at approximately $125,000. Hedge funds and other institutional investors 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, construction and forestry industries. The company offers equipment for sale, rental and lease, along with parts, maintenance, repair, transportation and other support services intended to help customers acquire and operate specialized fleet assets.

Its product portfolio includes new and used truck-mounted equipment, utility vehicles, cranes, aerial devices, digger derricks, rail equipment, trailers and other specialty vehicles.

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