Bank of America Corp DE Grows Stock Position in Custom Truck One Source, Inc. (NYSE:CTOS)

Bank of America Corp DE raised its stake in shares of Custom Truck One Source, Inc. (NYSE:CTOS - Free Report) by 111.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,312,083 shares of the company's stock after acquiring an additional 691,863 shares during the quarter. Bank of America Corp DE owned approximately 0.56% of Custom Truck One Source worth $6,311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canvas Wealth Advisors LLC boosted its position in Custom Truck One Source by 8.0% during the 4th quarter. Canvas Wealth Advisors LLC now owns 4,108,354 shares of the company's stock valued at $19,761,000 after acquiring an additional 303,744 shares in the last quarter. Boston Partners bought a new stake in Custom Truck One Source during the 4th quarter valued at $18,268,000. Heartland Advisors Inc. boosted its position in Custom Truck One Source by 26.3% during the 4th quarter. Heartland Advisors Inc. now owns 1,200,000 shares of the company's stock valued at $5,772,000 after acquiring an additional 250,000 shares in the last quarter. Portolan Capital Management LLC lifted its holdings in shares of Custom Truck One Source by 152.8% during the 4th quarter. Portolan Capital Management LLC now owns 1,451,573 shares of the company's stock valued at $6,982,000 after purchasing an additional 877,273 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Custom Truck One Source by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,778,062 shares of the company's stock worth $13,362,000 after purchasing an additional 73,213 shares in the last quarter. Institutional investors own 90.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Custom Truck One Source from $5.50 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Baird R W cut Custom Truck One Source from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Robert W. Baird cut Custom Truck One Source from an "outperform" rating to a "neutral" rating and set a $5.00 price objective for the company. in a research report on Monday, April 28th. Finally, Oppenheimer raised their price objective on 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Custom Truck One Source presently has a consensus rating of "Hold" and an average price target of $5.25.

Custom Truck One Source Stock Performance

CTOS stock traded down $0.09 during midday trading on Friday, reaching $4.31. The stock had a trading volume of 261,545 shares, compared to its average volume of 678,100. The stock has a market cap of $972.56 million, a PE ratio of -26.94 and a beta of 1.18. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28. The firm has a fifty day simple moving average of $4.12 and a two-hundred day simple moving average of $4.70. Custom Truck One Source, Inc. has a 52-week low of $3.03 and a 52-week high of $6.11.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The firm had revenue of $422.23 million during the quarter, compared to analysts' expectations of $435.19 million. Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) EPS. As a group, equities research analysts anticipate that Custom Truck One Source, Inc. will post -0.21 EPS for the current year.

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).