Custom Truck One Source (NYSE:CTOS) Hits New 52-Week High - Time to Buy?

Key Points

• CTOS hit a new 52-week high, trading as high as $7.78 and last at $7.8150 on Monday with about 98,798 shares changing hands.
• Analyst sentiment is mixed: three Buys, two Holds and two Sells produce a MarketBeat consensus "Hold" rating and $7.40 target, while JPMorgan cut its target to $6.00 (underweight) and DA Davidson kept a Buy at $8.50.
• Recent results show mixed fundamentals: quarterly EPS beat slightly ($0.09 vs. $0.07) but revenue missed ($528.2M vs. $584.8M), the company has a negative net margin and P/E, and a high debt-to-equity ratio (2.00).

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $7.78 and last traded at $7.8150, with a volume of 98798 shares traded. The stock had previously closed at $7.61.

Analyst Ratings Changes

A number of analysts recently issued reports on CTOS shares. JPMorgan Chase & Co. reduced their price objective on Custom Truck One Source from $6.50 to $6.00 and set an "underweight" rating for the company in a research report on Wednesday, March 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Custom Truck One Source in a research report on Wednesday, January 21st. Finally, DA Davidson reaffirmed a "buy" rating and set a $8.50 price target on shares of Custom Truck One Source in a research note on Wednesday, March 11th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.40.

Custom Truck One Source Price Performance

The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26. The stock has a market capitalization of $1.80 billion, a P/E ratio of -52.97 and a beta of 1.12. The stock's fifty day moving average is $6.82 and its 200-day moving average is $6.39.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last posted its earnings results on Tuesday, March 10th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $528.18 million for the quarter, compared to analyst estimates of $584.76 million. Custom Truck One Source had a negative return on equity of 3.88% and a negative net margin of 1.60%.The business's revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. On average, equities analysts anticipate that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

A number of large investors have recently added to or reduced their stakes in CTOS. M&T Bank Corp grew its holdings in Custom Truck One Source by 7.6% during the second quarter. M&T Bank Corp now owns 26,222 shares of the company's stock valued at $130,000 after purchasing an additional 1,848 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Custom Truck One Source by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,448 shares of the company's stock worth $185,000 after buying an additional 2,371 shares during the period. Stoneridge Investment Partners LLC boosted its holdings in shares of Custom Truck One Source by 8.2% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 32,813 shares of the company's stock worth $211,000 after buying an additional 2,478 shares during the period. Legal & General Group Plc grew its stake in Custom Truck One Source by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 60,973 shares of the company's stock valued at $391,000 after buying an additional 2,692 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Custom Truck One Source by 9.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company's stock valued at $157,000 after buying an additional 2,773 shares during the last quarter. Institutional investors own 90.07% of the company's stock.

About Custom Truck One Source

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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