Custom Truck One Source (NYSE:CTOS) Sets New 52-Week High After Earnings Beat

Key Points

• Custom Truck One Source shares hit a new 52-week high intraday after reporting quarterly results that beat expectations — EPS of ($0.02) vs. consensus ($0.06) and revenue of $461.62M vs. $448.27M; shares traded as high as $8.98 (last $8.865) on volume ~653,207.
• Analyst views are mixed: the consensus rating is "Hold" with an average target of $8.00, though Cantor Fitzgerald rates the stock "Overweight" with an $11 target while firms like JPMorgan have lower/underweight calls.
• The company shows weak profitability and leverage (net margin -1.60%, ROE -3.88%, debt/equity 2.00) but has heavy institutional ownership (90.07%), including a large stake held by Canvas Wealth Advisors.

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $8.98 and last traded at $8.8650, with a volume of 653207 shares changing hands. The stock had previously closed at $8.74.

The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.04. 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 $461.62 million for the quarter, compared to analysts' expectations of $448.27 million.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CTOS shares. DA Davidson reaffirmed a "buy" rating and set a $8.50 price target on shares of Custom Truck One Source in a report on Wednesday, March 11th. Cantor Fitzgerald started coverage on shares of Custom Truck One Source in a research note on Tuesday, April 21st. They set an "overweight" rating and a $11.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Custom Truck One Source in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. dropped their target price on Custom Truck One Source from $6.50 to $6.00 and set an "underweight" rating on the stock in a report on Wednesday, March 11th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Custom Truck One Source currently has an average rating of "Hold" and an average target price of $8.00.

Institutional Trading of Custom Truck One Source

Institutional investors and hedge funds have recently bought and sold shares of the stock. EFG Asset Management North America Corp. acquired a new stake in Custom Truck One Source during the 3rd quarter worth about $1,762,000. Canvas Wealth Advisors LLC lifted its holdings in shares of Custom Truck One Source by 48.5% in the fourth quarter. Canvas Wealth Advisors LLC now owns 7,050,221 shares of the company's stock valued at $40,609,000 after purchasing an additional 2,303,504 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in shares of Custom Truck One Source in the third quarter valued at $4,167,000. Sapient Capital LLC purchased a new stake in shares of Custom Truck One Source in the third quarter worth approximately $810,000. Finally, Citigroup Inc. lifted its position in shares of Custom Truck One Source by 320.8% in the third quarter. Citigroup Inc. now owns 399,321 shares of the company's stock worth $2,564,000 after purchasing an additional 304,427 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company's stock.

Custom Truck One Source Stock Up 0.6%

The business's 50-day moving average price is $6.96 and its 200-day moving average price is $6.47. The company has a quick ratio of 0.26, a current ratio of 1.33 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $1.99 billion, a PE ratio of -58.59 and a beta of 1.12.

Custom Truck One Source Company Profile

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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