Custom Truck One Source (NYSE:CTOS) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Custom Truck One Source (NYSE:CTOS) experienced a significant trading volume increase of 184%, with about 2.1 million shares traded on Wednesday, up from 736,778 shares previously.
• Analysts' ratings for CTOS show a mix of outlooks, with a consensus price target of $6.38 and ratings ranging from "Buy" to "Sell" across different firms.
• In its latest quarterly earnings, Custom Truck reported a revenue increase of 20.9% year-over-year, despite missing EPS estimates, indicating some growth potential for the company.

Shares of Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 2,093,373 shares traded hands during mid-day trading, an increase of 184% from the previous session's volume of 736,778 shares.The stock last traded at $5.67 and had previously closed at $5.61.

Wall Street Analyst Weigh In

CTOS has been the subject of several research reports. Oppenheimer set a $8.00 price objective on shares of Custom Truck One Source and gave the stock an "outperform" rating in a report on Monday, August 4th. Stifel Nicolaus set a $7.00 price target on Custom Truck One Source and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $5.50 price target (down from $6.00) on shares of Custom Truck One Source in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Custom Truck One Source presently has an average rating of "Hold" and a consensus target price of $6.38.

Custom Truck One Source Trading Up 1.0%

The firm has a 50 day simple moving average of $5.80 and a 200 day simple moving average of $4.90. The company has a current ratio of 1.26, a quick ratio of 0.23 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $1.31 billion, a PE ratio of -36.03 and a beta of 1.22.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last announced its 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). The company had revenue of $511.48 million for the quarter, compared to analysts' expectations of $460.73 million. Custom Truck One Source had a negative net margin of 1.89% and a negative return on equity of 6.61%. Custom Truck One Source's quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Custom Truck One Source has set its FY 2025 guidance at EPS. Equities analysts expect that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its stake in shares of Custom Truck One Source by 4.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 7,724,424 shares of the company's stock worth $32,598,000 after purchasing an additional 316,642 shares in the last quarter. Boston Partners increased its stake in shares of Custom Truck One Source by 71.5% in the second quarter. Boston Partners now owns 5,433,075 shares of the company's stock worth $26,849,000 after purchasing an additional 2,264,366 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Custom Truck One Source by 45.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,305,702 shares of the company's stock worth $22,391,000 after purchasing an additional 1,645,798 shares in the last quarter. Canvas Wealth Advisors LLC increased its stake in shares of Custom Truck One Source by 6.5% in the second quarter. Canvas Wealth Advisors LLC now owns 4,760,683 shares of the company's stock worth $23,518,000 after purchasing an additional 292,341 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Custom Truck One Source by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,307,058 shares of the company's stock worth $18,090,000 after purchasing an additional 93,090 shares in the last quarter. Hedge funds and other institutional investors own 90.07% of the company's stock.

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).