Canvas Wealth Advisors LLC Boosts Holdings in Custom Truck One Source, Inc. (NYSE:CTOS)

Canvas Wealth Advisors LLC grew its stake in Custom Truck One Source, Inc. (NYSE:CTOS - Free Report) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,468,342 shares of the company's stock after acquiring an additional 359,988 shares during the quarter. Custom Truck One Source accounts for 4.4% of Canvas Wealth Advisors LLC's holdings, making the stock its 4th biggest position. Canvas Wealth Advisors LLC owned 1.98% of Custom Truck One Source worth $17,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CTOS. CWA Asset Management Group LLC bought a new position in Custom Truck One Source during the first quarter worth about $68,000. Bank of America Corp DE raised its position in shares of Custom Truck One Source by 111.6% during the fourth quarter. Bank of America Corp DE now owns 1,312,083 shares of the company's stock worth $6,311,000 after purchasing an additional 691,863 shares during the period. Boston Partners acquired a new position in shares of Custom Truck One Source in the 4th quarter valued at approximately $18,268,000. Heartland Advisors Inc. grew its position in shares of Custom Truck One Source by 26.3% in the 4th quarter. Heartland Advisors Inc. now owns 1,200,000 shares of the company's stock valued at $5,772,000 after purchasing an additional 250,000 shares during the period. Finally, Portolan Capital Management LLC increased its stake in 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 worth $6,982,000 after purchasing an additional 877,273 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Custom Truck One Source Stock Down 1.6%

CTOS stock traded down $0.08 during midday trading on Monday, hitting $4.96. The company's stock had a trading volume of 508,071 shares, compared to its average volume of 675,388. The company's fifty day moving average price is $4.46 and its 200 day moving average price is $4.58. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.29 and a quick ratio of 0.24. Custom Truck One Source, Inc. has a twelve month low of $3.03 and a twelve month high of $6.11. The stock has a market capitalization of $1.12 billion, a P/E ratio of -38.15 and a beta of 1.18.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $422.23 million during the quarter, compared to the consensus estimate of $435.19 million. Custom Truck One Source had a negative net margin of 1.77% and a negative return on equity of 6.02%. Custom Truck One Source's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. As a group, equities research analysts predict 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).