Custom Truck One Source (NYSE:CTOS) Rating Increased to Strong-Buy at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded Custom Truck One Source (NYSE:CTOS) to a strong-buy, but analyst coverage is mixed (1 Strong Buy, 3 Buy, 2 Hold, 2 Sell) leaving the consensus rating at Hold with an average price target of $8.00.
• CTOS beat quarterly EPS estimates ($0.09 vs. $0.07) but missed revenue expectations ($528.2M vs. $584.8M), and the company still reports a negative net margin (-1.6%) and negative return on equity (-3.88%).
• The stock opened at $8.35 with a 52-week range of $3.67–$8.46 and a market cap around $1.89B; balance-sheet metrics show debt-to-equity of 2.00, a quick ratio of 0.26, current ratio of 1.33, and roughly 90% institutional ownership.

Custom Truck One Source (NYSE:CTOS - Get Free Report) was upgraded by research analysts at Cantor Fitzgerald to a "strong-buy" rating in a research note issued to investors on Tuesday, MarketBeat.com reports.

A number of other research firms have also commented on CTOS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Custom Truck One Source in a report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Custom Truck One Source from $6.50 to $6.00 and set an "underweight" rating for the company in a report on Wednesday, March 11th. Finally, DA Davidson reissued a "buy" rating and issued a $8.50 price target on shares of Custom Truck One Source in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $8.00.

Custom Truck One Source Price Performance

CTOS opened at $8.35 on Tuesday. The company has a fifty day moving average price of $6.87 and a two-hundred day moving average price of $6.42. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.26 and a current ratio of 1.33. Custom Truck One Source has a 52 week low of $3.67 and a 52 week high of $8.46. The firm has a market capitalization of $1.89 billion, a PE ratio of -55.63 and a beta of 1.12.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last released its earnings results on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. The firm had revenue of $528.18 million during the quarter, compared to analyst estimates of $584.76 million. During the same quarter in the previous year, the business earned $0.12 EPS. The business's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts anticipate that Custom Truck One Source will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC acquired a new position in Custom Truck One Source in the 4th quarter worth $28,000. BNP Paribas Financial Markets boosted its stake in Custom Truck One Source by 92.1% in the 2nd 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 period. Quantbot Technologies LP acquired a new position in Custom Truck One Source in the 2nd quarter worth $35,000. Oak Thistle LLC acquired a new position in Custom Truck One Source in the 4th quarter worth $58,000. Finally, Jane Street Group LLC acquired a new position in Custom Truck One Source in the 2nd quarter worth $58,000. 90.07% of the stock is owned by institutional investors and hedge funds.

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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