Custom Truck One Source (NYSE:CTOS) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer analysts raised the price target for Custom Truck One Source from $6.00 to $8.00, suggesting a potential upside of 29.66%.
• Despite a revenue increase of 20.9% year-over-year, the company reported a loss of ($0.13) EPS, which was below the consensus estimate of ($0.05).
• Institutional investors hold a significant portion of the stock, with 90.07% owned by institutional investors and hedge funds.

Custom Truck One Source (NYSE:CTOS - Get Free Report) had its target price hoisted by research analysts at Oppenheimer from $6.00 to $8.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target points to a potential upside of 29.66% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus set a $7.00 price target on Custom Truck One Source and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Baird R W lowered Custom Truck One Source from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Robert W. Baird lowered Custom Truck One Source from an "outperform" rating to a "neutral" rating and set a $5.00 target price on the stock. in a research report on Monday, April 28th.

Custom Truck One Source Stock Down 0.3%

NYSE:CTOS opened at $6.17 on Monday. Custom Truck One Source has a twelve month low of $3.03 and a twelve month high of $6.64. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -38.56 and a beta of 1.27. The stock has a fifty day simple moving average of $5.07 and a 200-day simple moving average of $4.70. 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 posted its earnings results 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). Custom Truck One Source had a negative net margin of 1.89% and a negative return on equity of 6.61%. The company had revenue of $511.48 million during the quarter, compared to analysts' expectations of $460.73 million. During the same quarter last year, the firm earned ($0.10) EPS. Custom Truck One Source's revenue for the quarter was up 20.9% on a year-over-year basis. Analysts anticipate that Custom Truck One Source will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CWA Asset Management Group LLC acquired a new position in shares of Custom Truck One Source during the 1st quarter worth approximately $68,000. Allspring Global Investments Holdings LLC raised its stake in shares of Custom Truck One Source by 2.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,307,058 shares of the company's stock worth $18,090,000 after buying an additional 93,090 shares during the period. Bank of America Corp DE raised its stake in shares of 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 buying an additional 691,863 shares during the period. Canvas Wealth Advisors LLC raised 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 worth $17,158,000 after buying an additional 359,988 shares during the period. Finally, Portolan Capital Management LLC raised its stake in shares of Custom Truck One Source by 152.8% during the 4th quarter. Portolan Capital Management LLC now owns 1,451,573 shares of the company's stock worth $6,982,000 after buying an additional 877,273 shares during the period. 90.07% of the stock is owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

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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