Custom Truck One Source (NYSE:CTOS) Hits New 52-Week High on Analyst Upgrade

Key Points

• Custom Truck One Source, Inc. (NYSE:CTOS) achieved a new 52-week high after JPMorgan raised its price target from $5.50 to $6.00, despite maintaining an underweight rating on the stock.
• Analysts have a mixed outlook on CTOS, with price targets ranging from $6.00 to $8.00, while two analysts rated it as a Buy and two as a Sell.
• For the latest quarter, Custom Truck reported revenue of $511.48 million, surpassing estimates, but the company posted a loss of ($0.13) earnings per share, missing expectations by ($0.08).

Shares of Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) hit a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $5.50 to $6.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Custom Truck One Source traded as high as $6.73 and last traded at $6.57, with a volume of 911917 shares trading hands. The stock had previously closed at $6.47.

A number of other analysts also recently weighed in on CTOS. Stifel Nicolaus lifted their price target on Custom Truck One Source from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Custom Truck One Source in a research note on Wednesday, October 8th. Finally, Oppenheimer set a $8.00 price target on Custom Truck One Source and gave the company an "outperform" rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $6.75.

Hedge Funds Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently bought and sold shares of CTOS. BNP Paribas Financial Markets raised its holdings in Custom Truck One Source by 92.1% during the second quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company's stock worth $29,000 after purchasing an additional 2,809 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Custom Truck One Source in the second quarter worth $35,000. Teacher Retirement System of Texas acquired a new position in shares of Custom Truck One Source in the first quarter worth $43,000. Teza Capital Management LLC acquired a new position in shares of Custom Truck One Source in the first quarter worth $45,000. Finally, Jane Street Group LLC acquired a new position in shares of Custom Truck One Source in the second quarter worth $58,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Custom Truck One Source Stock Performance

The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -41.03 and a beta of 1.26. The stock has a fifty day moving average price of $6.04 and a two-hundred day moving average price of $5.12. The company has a quick ratio of 0.23, a current ratio of 1.26 and a debt-to-equity ratio of 2.01.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.08). Custom Truck One Source had a negative return on equity of 6.61% and a negative net margin of 1.89%.The company had revenue of $511.48 million during the quarter, compared to analyst estimates of $460.73 million. During the same period last year, the firm earned ($0.10) earnings per share. The business's revenue was up 20.9% compared to the same quarter last year. Custom Truck One Source has set its FY 2025 guidance at EPS. As a group, analysts forecast that Custom Truck One Source, Inc. will post -0.21 EPS for the current fiscal year.

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).

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