Custom Truck One Source's (CTOS) "Buy" Rating Reiterated at DA Davidson

Key Points

• DA Davidson reiterated a "Buy" rating on CTOS with a $8.50 price target, which implies about a 6.0% downside from the stock's prior close.
• In the latest quarter CTOS beat expectations with EPS of ($0.02) versus ($0.05) expected and revenue of $461.6M (up 9.3% year-over-year), while the stock traded at $9.04 and carries a negative P/E.
• Analyst sentiment is mixed—four Buys, one Hold and two Sells with a consensus target of $8.00—while institutional ownership is very high at about 90.07% and recent notable calls include Cantor Fitzgerald's $11 overweight and JPMorgan's $6 underweight.

Custom Truck One Source (NYSE:CTOS - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $8.50 price target on the stock. DA Davidson's target price would indicate a potential downside of 6.02% from the stock's previous close.

CTOS has been the subject of several other reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Custom Truck One Source in a report on Monday, April 20th. JPMorgan Chase & Co. cut their price target on Custom Truck One Source from $6.50 to $6.00 and set an "underweight" rating for the company in a report on Wednesday, March 11th. Finally, Cantor Fitzgerald started coverage on Custom Truck One Source in a report on Tuesday, April 21st. They issued an "overweight" rating and a $11.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.00.

Custom Truck One Source Trading Up 3.0%

CTOS traded up $0.26 during trading on Tuesday, hitting $9.04. The company's stock had a trading volume of 630,700 shares, compared to its average volume of 875,510. The firm's 50 day moving average price is $6.99 and its 200-day moving average price is $6.48. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26. The stock has a market cap of $2.05 billion, a PE ratio of -60.63 and a beta of 1.12. Custom Truck One Source has a twelve month low of $3.77 and a twelve month high of $9.35.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $461.62 million during the quarter, compared to the consensus estimate of $448.27 million. Custom Truck One Source had a negative return on equity of 3.88% and a negative net margin of 1.60%.Custom Truck One Source's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. On average, analysts expect that Custom Truck One Source will post 0.03 earnings per share for the current year.

Institutional Trading of Custom Truck One Source

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC purchased a new stake in shares of Custom Truck One Source during the 4th quarter valued at $28,000. BNP Paribas Financial Markets grew its stake in shares of Custom Truck One Source by 92.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company's stock valued at $29,000 after buying an additional 2,809 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Custom Truck One Source during the 2nd quarter valued at $35,000. Oak Thistle LLC purchased a new stake in shares of Custom Truck One Source during the 4th quarter valued at $58,000. Finally, Jane Street Group LLC purchased a new stake in Custom Truck One Source during the 2nd quarter worth $58,000. 90.07% of the stock is owned by hedge funds and other 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.

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