Custom Truck One Source, Inc. (NYSE:CTOS) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analyst sentiment is mixed: Seven analysts give Custom Truck One Source an average “Hold” rating, with four buys, one hold and two sells. The average 12-month price target is $10.14.
• Institutional ownership is high: Hedge funds and other institutional investors own 90.07% of the company, with several major holders increasing their stakes.
• Quarterly results exceeded expectations: The company reported a quarterly loss of $0.02 per share versus the expected $0.05 loss, while revenue rose 9.3% year over year to $461.62 million.

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) has been assigned an average rating of "Hold" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $10.1429.

A number of analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Custom Truck One Source from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Cantor Fitzgerald lifted their target price on Custom Truck One Source from $11.00 to $13.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. DA Davidson reissued a "buy" rating and issued a $8.50 price target on shares of Custom Truck One Source in a report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price objective on shares of Custom Truck One Source from $6.00 to $8.00 and gave the company an "underweight" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Custom Truck One Source in a research note on Friday, July 17th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Custom Truck One Source by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company's stock worth $36,806,000 after buying an additional 741,857 shares in the last quarter. Boston Partners boosted its stake in Custom Truck One Source by 0.8% during the third quarter. Boston Partners now owns 5,475,307 shares of the company's stock valued at $35,150,000 after buying an additional 42,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Custom Truck One Source by 2.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,310,114 shares of the company's stock worth $34,090,000 after buying an additional 112,519 shares in the last quarter. Vanguard Group Inc. increased its stake in Custom Truck One Source by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,276,088 shares of the company's stock worth $21,032,000 after acquiring an additional 135,192 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Custom Truck One Source by 42.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company's stock worth $14,401,000 after acquiring an additional 750,000 shares during the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Custom Truck One Source Stock Down 6.1%

Custom Truck One Source stock opened at $9.72 on Thursday. The firm has a 50 day simple moving average of $10.42 and a 200 day simple moving average of $8.40. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 2.02. Custom Truck One Source has a 1-year low of $5.18 and a 1-year high of $12.23. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -108.02 and a beta of 1.34.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. Custom Truck One Source had a negative return on equity of 2.18% and a negative net margin of 0.88%.The firm had revenue of $461.62 million during the quarter, compared to analyst estimates of $452.67 million. During the same period last year, the company earned ($0.08) earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts predict that Custom Truck One Source will post 0.11 earnings per share for the current year.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc NYSE: CTOS is a North American provider of specialty rental equipment, parts and services. The company's fleet encompasses a wide range of assets, including cranes, aerial work platforms, trench safety and shoring equipment, fluid management solutions, generators and other industrial machinery. Customers rely on Custom Truck One Source to support projects in construction, energy, telecommunications, industrial manufacturing, municipalities and large-scale events.

Headquartered in Plano, Texas, Custom Truck One Source has expanded through a combination of organic growth and strategic acquisitions to establish a network of more than 140 branch locations across the United States and Canada.

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