Custom Truck One Source (NYSE:CTOS) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Custom Truck One Source from “hold” to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $11.21.
• CTOS reported quarterly EPS of $0.05, beating estimates of $0.01, while revenue reached $563.45 million—10.2% higher than the prior-year quarter and above expectations.
• The stock opened at $10.99, near its $12.23 52-week high, and institutional investors own approximately 90.07% of the company’s shares.

Custom Truck One Source (NYSE:CTOS - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

CTOS has been the subject of several other research reports. Robert W. Baird raised their price objective on shares of Custom Truck One Source from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday. Oppenheimer upped their target price on shares of Custom Truck One Source from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Wednesday. DA Davidson reissued a "buy" rating and set a $8.50 price target on shares of Custom Truck One Source in a research note on Tuesday, April 28th. Capital One Financial set a $13.00 price target on shares of Custom Truck One Source in a report on Tuesday, May 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Custom Truck One Source from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.21.

Custom Truck One Source Price Performance

Shares of CTOS stock opened at $10.99 on Wednesday. The stock's fifty day moving average is $10.55 and its 200-day moving average is $8.58. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.25 and a current ratio of 1.34. The stock has a market capitalization of $2.49 billion, a PE ratio of 122.13 and a beta of 1.38. Custom Truck One Source has a 52 week low of $5.18 and a 52 week high of $12.23.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. The business had revenue of $563.45 million during the quarter, compared to analysts' expectations of $509.76 million. Custom Truck One Source had a return on equity of 2.66% and a net margin of 1.05%.The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) earnings per share. Equities research analysts expect that Custom Truck One Source will post 0.11 EPS for the current fiscal year.

Institutional Trading of Custom Truck One Source

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Custom Truck One Source by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company's stock valued at $36,806,000 after purchasing an additional 741,857 shares during the last quarter. Boston Partners raised its stake in shares of Custom Truck One Source by 0.8% during the third quarter. Boston Partners now owns 5,475,307 shares of the company's stock worth $35,150,000 after buying an additional 42,232 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Custom Truck One Source by 2.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,310,114 shares of the company's stock valued at $34,090,000 after buying an additional 112,519 shares during the period. Vanguard Group Inc. lifted its holdings in Custom Truck One Source by 4.3% in the third quarter. Vanguard Group Inc. now owns 3,276,088 shares of the company's stock valued at $21,032,000 after buying an additional 135,192 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in Custom Truck One Source by 42.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company's stock valued at $14,401,000 after buying an additional 750,000 shares during the period. 90.07% of the stock is owned by institutional investors.

About Custom Truck One Source

Custom Truck One Source, Inc NYSE: CTOS is a North American provider of specialty rental equipment, parts and services. The company's fleet encompasses a wide range of assets, including cranes, aerial work platforms, trench safety and shoring equipment, fluid management solutions, generators and other industrial machinery. Customers rely on Custom Truck One Source to support projects in construction, energy, telecommunications, industrial manufacturing, municipalities and large-scale events.

Headquartered in Plano, Texas, Custom Truck One Source has expanded through a combination of organic growth and strategic acquisitions to establish a network of more than 140 branch locations across the United States and Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source