Custom Truck One Source (NYSE:CTOS) Shares Up 8.8% - Here's What Happened

Shares of Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) traded up 8.8% during mid-day trading on Friday . The company traded as high as $4.25 and last traded at $4.26. 69,744 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 807,973 shares. The stock had previously closed at $3.91.

Wall Street Analyst Weigh In

CTOS has been the topic of a number of research analyst reports. Baird R W downgraded Custom Truck One Source from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Stifel Nicolaus lowered their target price on Custom Truck One Source from $5.50 to $5.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird lowered shares of Custom Truck One Source from an "outperform" rating to a "neutral" rating and set a $5.00 price target for the company. in a research report on Monday, April 28th. Finally, Oppenheimer lifted their price objective on shares of Custom Truck One Source from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Custom Truck One Source presently has an average rating of "Hold" and an average price target of $5.25.

Custom Truck One Source Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The stock has a market capitalization of $937.13 million, a P/E ratio of -25.96 and a beta of 1.18. The stock has a fifty day moving average price of $4.23 and a 200 day moving average price of $4.66.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last posted its 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). Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The business had revenue of $422.23 million for the quarter, compared to analysts' expectations of $435.19 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Custom Truck One Source's quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Institutional Trading of Custom Truck One Source

Several institutional investors and hedge funds have recently made changes to their positions in CTOS. Cetera Investment Advisers increased its stake in Custom Truck One Source by 118.8% in the first quarter. Cetera Investment Advisers now owns 58,343 shares of the company's stock valued at $246,000 after acquiring an additional 31,684 shares during the last quarter. Arizona State Retirement System lifted its position 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 worth $85,000 after buying an additional 2,948 shares during the last quarter. Catawba River Capital boosted its stake in Custom Truck One Source by 1.4% in the first quarter. Catawba River Capital now owns 1,367,779 shares of the company's stock worth $5,772,000 after buying an additional 18,559 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Custom Truck One Source during the first quarter valued at approximately $43,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Custom Truck One Source by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,307,058 shares of the company's stock worth $18,090,000 after acquiring an additional 93,090 shares during the last quarter. Hedge funds and other institutional investors own 90.07% of the company's stock.

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).