Custom Truck One Source (NYSE:CTOS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its target price for Custom Truck One Source from $5.50 to $6.00, but maintains an "underweight" rating, suggesting a potential downside from the stock's previous close.
• Stifel Nicolaus and Oppenheimer have set higher price targets of $8.00, indicating a more optimistic outlook compared to JPMorgan, while Weiss Ratings reaffirmed a "sell" rating.
• The stock opened at $6.46, with a market cap of $1.46 billion and reported a negative earnings per share of ($0.13) for the last quarter, missing consensus estimates.

Custom Truck One Source (NYSE:CTOS - Get Free Report) had its target price upped by JPMorgan Chase & Co. from $5.50 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 7.12% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus boosted their price objective on Custom Truck One Source from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Thursday. Oppenheimer set a $8.00 target price on shares of Custom Truck One Source and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Custom Truck One Source in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Custom Truck One Source has an average rating of "Hold" and a consensus price target of $6.75.

Custom Truck One Source Price Performance

CTOS stock opened at $6.46 on Tuesday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -40.38 and a beta of 1.26. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.26 and a quick ratio of 0.23. The company has a 50 day simple moving average of $6.02 and a 200 day simple moving average of $5.11. Custom Truck One Source has a 1 year low of $3.17 and a 1 year high of $6.71.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.08). The firm had revenue of $511.48 million during the quarter, compared to analyst estimates 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%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) EPS. Custom Truck One Source has set its FY 2025 guidance at EPS. Research analysts anticipate that Custom Truck One Source will post -0.21 EPS for the current fiscal year.

Institutional Trading of Custom Truck One Source

Several institutional investors and hedge funds have recently made changes to their positions in CTOS. Boston Partners increased its holdings in Custom Truck One Source by 71.5% in the 2nd quarter. Boston Partners now owns 5,433,075 shares of the company's stock worth $26,849,000 after acquiring an additional 2,264,366 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Custom Truck One Source by 45.0% during 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 during the period. First Eagle Investment Management LLC increased its stake in shares of Custom Truck One Source by 283.7% in the second quarter. First Eagle Investment Management LLC now owns 558,353 shares of the company's stock worth $2,758,000 after purchasing an additional 412,830 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Custom Truck One Source by 223.5% in the first quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company's stock valued at $2,235,000 after purchasing an additional 365,862 shares during the period. Finally, Canvas Wealth Advisors LLC lifted its stake in shares of Custom Truck One Source by 8.8% during the 1st quarter. Canvas Wealth Advisors LLC now owns 4,468,342 shares of the company's stock valued at $17,158,000 after buying an additional 359,988 shares in the last quarter. Hedge funds and other institutional investors 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).

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