Custom Truck One Source (NYSE:CTOS) Shares Gap Up - Still a Buy?

Key Points

• Shares of Custom Truck One Source gapped up, opening at $8.25 after a prior close of $7.88 and last trading around $8.38 on a volume of 102,316 shares.
• Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and an average target of $8.00; four analysts rate the stock Buy, two Hold and two Sell, while Cantor Fitzgerald initiated coverage with an Overweight $11 target.
• The company reported $0.09 EPS beating estimates but missed on revenue ($528.2M vs. $584.8M est.); it remains effectively unprofitable with a negative P/E, negative net margin, a debt/equity of 2.0 and about 90% institutional ownership.

Shares of Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $7.88, but opened at $8.25. Custom Truck One Source shares last traded at $8.3770, with a volume of 102,316 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTOS shares. Cantor Fitzgerald started coverage on Custom Truck One Source in a research note on Tuesday. They set an "overweight" rating and a $11.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Custom Truck One Source in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lowered their target price on Custom Truck One Source from $6.50 to $6.00 and set an "underweight" rating for the company in a research note on Wednesday, March 11th. Finally, DA Davidson reissued a "buy" rating and set a $8.50 target price on shares of Custom Truck One Source in a research note on Wednesday, March 11th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.00.

Custom Truck One Source Stock Performance

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 stock has a market cap of $1.89 billion, a price-to-earnings ratio of -55.70 and a beta of 1.12. The company has a 50 day simple moving average of $6.84 and a 200 day simple moving average of $6.40.

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

Institutional Trading of Custom Truck One Source

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC bought a new stake in shares of Custom Truck One Source during the fourth quarter worth about $28,000. BNP Paribas Financial Markets grew its holdings in shares of 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 worth $29,000 after purchasing an additional 2,809 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Custom Truck One Source during the second quarter worth about $35,000. Oak Thistle LLC bought a new stake in shares of Custom Truck One Source during the fourth quarter worth about $58,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Custom Truck One Source during the fourth quarter worth about $67,000. 90.07% of the stock is currently owned by institutional investors.

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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