Custom Truck One Source (NYSE:CTOS) Sees Large Volume Increase - Here's What Happened

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.

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 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 Analysts Forecast Growth

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

Custom Truck One Source Trading Up 1.7%

The firm has a fifty day simple moving average of $5.76 and a two-hundred day simple moving average of $4.87. The stock has a market cap of $1.29 billion, a PE ratio of -35.66 and a beta of 1.22. The company has a current ratio of 1.26, a quick ratio of 0.23 and a debt-to-equity ratio of 2.01.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.08). The firm had revenue of $511.48 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) earnings per share. Custom Truck One Source has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

Several institutional investors have recently modified their holdings of CTOS. Boston Partners increased its position in shares of Custom Truck One Source by 71.5% during the 2nd quarter. Boston Partners now owns 5,433,075 shares of the company's stock valued at $26,849,000 after purchasing an additional 2,264,366 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Custom Truck One Source by 45.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,305,702 shares of the company's stock worth $22,391,000 after acquiring an additional 1,645,798 shares during the last quarter. Bank of America Corp DE grew its position in Custom Truck One Source by 111.6% during the 4th quarter. Bank of America Corp DE now owns 1,312,083 shares of the company's stock worth $6,311,000 after acquiring an additional 691,863 shares during the last quarter. First Eagle Investment Management LLC grew its position in Custom Truck One Source by 283.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 558,353 shares of the company's stock worth $2,758,000 after acquiring an additional 412,830 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Custom Truck One Source by 223.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company's stock worth $2,235,000 after acquiring an additional 365,862 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors.

About Custom Truck One Source

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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