Custom Truck One Source (NYSE:CTOS) Posts Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Custom Truck One Source exceeded quarterly expectations, reporting EPS of $0.05 versus the $0.01 consensus estimate and revenue of $563.45 million compared with expectations of $509.76 million.
• Shares rose to $10.60 following the results, while the company continued to show weak profitability, including a negative net margin of 0.88% and negative return on equity of 2.18%.
• Analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $10.14, despite several analysts maintaining Buy or Outperform ratings and targets as high as $13.

Custom Truck One Source (NYSE:CTOS - Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04, FiscalAI reports. The company had revenue of $563.45 million for the quarter, compared to analysts' expectations of $509.76 million. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%.

Custom Truck One Source Stock Performance

CTOS traded up $0.45 during trading hours on Monday, hitting $10.60. The company's stock had a trading volume of 1,413,421 shares, compared to its average volume of 997,594. The company has a 50-day simple moving average of $10.45 and a 200 day simple moving average of $8.46. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $2.40 billion, a PE ratio of -117.82 and a beta of 1.34. Custom Truck One Source has a fifty-two week low of $5.18 and a fifty-two week high of $12.23.

Wall Street Analyst Weigh In

CTOS has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Custom Truck One Source from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Cantor Fitzgerald lifted their price target on shares of Custom Truck One Source from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Oppenheimer reiterated an "outperform" rating and issued a $11.00 target price on shares of Custom Truck One Source in a research note on Friday, May 1st. Capital One Financial set a $13.00 price target on Custom Truck One Source in a report on Tuesday, May 26th. Finally, DA Davidson reissued a "buy" rating and set a $8.50 target price on shares of Custom Truck One Source in a research report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.14.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTOS. Parallel Advisors LLC bought a new position in Custom Truck One Source during the 4th quarter valued at $28,000. BNP Paribas Financial Markets boosted its stake 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 valued at $29,000 after buying an additional 2,809 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Custom Truck One Source in the 2nd quarter valued at about $35,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Custom Truck One Source during the 4th quarter valued at about $67,000. Finally, Jane Street Group LLC acquired a new position in shares of Custom Truck One Source in the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds 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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