Custom Truck One Source (NYSE:CTOS) Shares Gap Up - Here's Why

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $5.15, but opened at $5.48. Custom Truck One Source shares last traded at $5.78, with a volume of 365,820 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Baird R W cut Custom Truck One Source from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Robert W. Baird cut Custom Truck One Source from an "outperform" rating to a "neutral" rating and set a $5.00 target price for the company. in a report on Monday, April 28th. Finally, Stifel Nicolaus set a $7.00 target price on Custom Truck One Source and gave the company a "buy" rating in a report on Tuesday.

Custom Truck One Source Stock Down 3.6%

The business has a 50-day simple moving average of $4.80 and a 200-day simple moving average of $4.62. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -42.85 and a beta of 1.18. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.24 and a current ratio of 1.29.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $422.23 million for the quarter, compared to analyst estimates of $435.19 million. Custom Truck One Source had a negative return on equity of 6.02% and a negative net margin of 1.77%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned ($0.06) EPS. On average, equities analysts anticipate that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its position 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 valued at $32,598,000 after acquiring an additional 316,642 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $22,391,000 after acquiring an additional 1,645,798 shares in the last quarter. Canvas Wealth Advisors LLC lifted its position in shares of Custom Truck One Source by 8.8% in the first quarter. Canvas Wealth Advisors LLC now owns 4,468,342 shares of the company's stock valued at $17,158,000 after acquiring an additional 359,988 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position 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 valued at $18,090,000 after acquiring an additional 93,090 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Custom Truck One Source by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 3,903,855 shares of the company's stock valued at $18,778,000 after acquiring an additional 592,571 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company's stock.

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).