Custom Truck One Source (NYSE:CTOS) Trading Down 6% - What's Next?

Key Points

• Custom Truck One Source shares fell 6% to about $10.40, with trading volume of 162,597 shares—84% below the average daily volume.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $11.21; Oppenheimer recently raised its target to $13 and upgraded the stock to “outperform.”
• The company exceeded quarterly expectations, reporting $0.05 in EPS versus a $0.01 estimate and $563.45 million in revenue, up 10.2% year over year. Institutional investors own approximately 90.1% of the outstanding shares.

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report)'s stock price fell 6% during trading on Friday . The company traded as low as $10.31 and last traded at $10.4010. 162,597 shares changed hands during trading, a decline of 84% from the average daily volume of 1,002,204 shares. The stock had previously closed at $11.06.

Analysts Set New Price Targets

CTOS has been the subject of a number of recent research reports. Zacks Research upgraded Custom Truck One Source from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Oppenheimer lifted their target price on Custom Truck One Source from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Custom Truck One Source from $6.00 to $8.00 and gave the company an "underweight" rating in a research note on Wednesday, April 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Custom Truck One Source in a research report on Friday, July 17th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $8.50 price objective on shares of Custom Truck One Source in a research note on Tuesday, April 28th. 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

Custom Truck One Source Stock Down 5.1%

The firm has a 50 day moving average of $10.55 and a 200 day moving average of $8.58. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 116.74 and a beta of 1.38. The company has a quick ratio of 0.25, a current ratio of 1.34 and a debt-to-equity ratio of 2.03.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $563.45 million during the quarter, compared to the consensus estimate of $509.76 million. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) EPS. As a group, sell-side analysts predict that Custom Truck One Source, Inc. will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

A number of hedge funds have recently added to or reduced their stakes in CTOS. Parallel Advisors LLC acquired a new position in shares of Custom Truck One Source during the fourth quarter worth approximately $28,000. BNP Paribas Financial Markets grew its position in Custom Truck One Source by 92.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company's stock valued at $29,000 after purchasing an additional 2,809 shares during the period. Quantbot Technologies LP bought a new stake in Custom Truck One Source during the 2nd quarter valued at $35,000. Oak Thistle LLC bought a new stake in Custom Truck One Source during the 4th quarter valued at $58,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Custom Truck One Source during the fourth quarter worth $67,000. Institutional investors and hedge funds own 90.07% of the company's stock.

Custom Truck One Source Company Profile

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.

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