Custom Truck One Source (NYSE:CTOS) Given a $8.00 Price Target by Oppenheimer Analysts

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.

Oppenheimer set a $8.00 target price on Custom Truck One Source (NYSE:CTOS - Free Report) in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the stock.

CTOS has been the topic of several other reports. Baird R W downgraded Custom Truck One Source from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Robert W. Baird lowered shares of Custom Truck One Source from an "outperform" rating to a "neutral" rating and set a $5.00 target price on the stock. in a report on Monday, April 28th. Finally, Stifel Nicolaus set a $7.00 price target on shares of Custom Truck One Source and gave the stock a "buy" rating in a research note on Tuesday, July 15th.

Custom Truck One Source Price Performance

CTOS traded down $0.09 during midday trading on Monday, reaching $5.69. 899,977 shares of the company's stock were exchanged, compared to its average volume of 757,328. Custom Truck One Source has a 1-year low of $3.03 and a 1-year high of $6.64. The stock has a market capitalization of $1.28 billion, a PE ratio of -35.58 and a beta of 1.27. 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 business's 50-day moving average price is $5.19 and its 200 day moving average price is $4.73.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last issued 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). Custom Truck One Source had a negative return on equity of 6.61% and a negative net margin of 1.89%. The company had revenue of $511.48 million for the quarter, compared to analyst estimates of $460.73 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. The company's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities analysts anticipate that Custom Truck One Source will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

Hedge funds have recently made changes to their positions in the business. TD Asset Management Inc increased its stake in Custom Truck One Source by 1.8% in the second quarter. TD Asset Management Inc now owns 148,438 shares of the company's stock valued at $733,000 after purchasing an additional 2,590 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Custom Truck One Source by 9.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company's stock worth $157,000 after buying an additional 2,773 shares during the last quarter. Arizona State Retirement System grew its holdings in Custom Truck One Source by 17.2% in the 1st quarter. Arizona State Retirement System now owns 20,087 shares of the company's stock valued at $85,000 after buying an additional 2,948 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Custom Truck One Source by 18.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,394 shares of the company's stock valued at $94,000 after acquiring an additional 2,999 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Custom Truck One Source by 3.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 110,500 shares of the company's stock valued at $466,000 after acquiring an additional 3,800 shares during 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).