Canvas Wealth Advisors LLC Purchases 292,341 Shares of Custom Truck One Source, Inc. $CTOS

Key Points

• Canvas Wealth Advisors LLC has increased its stake in Custom Truck One Source, Inc. by 6.5% during the second quarter, now owning a total of 4,760,683 shares worth approximately $23.5 million.
• Custom Truck One Source's stock recently opened at $6.37, with a market capitalization of $1.44 billion and a reported negative EPS of -$0.13, missing estimates by $0.08.
• Analysts have mixed views on the stock, with price targets ranging from $5.50 to $8.00, leading to a consensus rating of "Hold" and a target price of $6.75.

Canvas Wealth Advisors LLC increased its position in Custom Truck One Source, Inc. (NYSE:CTOS - Free Report) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,760,683 shares of the company's stock after purchasing an additional 292,341 shares during the period. Custom Truck One Source makes up 4.8% of Canvas Wealth Advisors LLC's investment portfolio, making the stock its 2nd largest holding. Canvas Wealth Advisors LLC owned about 2.11% of Custom Truck One Source worth $23,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Custom Truck One Source during the second quarter worth $326,000. TD Asset Management Inc raised its holdings in shares of Custom Truck One Source by 1.8% in the 2nd quarter. TD Asset Management Inc now owns 148,438 shares of the company's stock worth $733,000 after acquiring an additional 2,590 shares during the last quarter. Sendero Wealth Management LLC lifted its position in Custom Truck One Source by 140.0% in the 2nd quarter. Sendero Wealth Management LLC now owns 390,797 shares of the company's stock valued at $1,931,000 after acquiring an additional 227,997 shares in the last quarter. Truist Financial Corp bought a new position in Custom Truck One Source in the 2nd quarter valued at about $74,000. Finally, Register Financial Advisors LLC boosted its stake in Custom Truck One Source by 9.1% during the 2nd quarter. Register Financial Advisors LLC now owns 120,300 shares of the company's stock valued at $594,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 90.07% of the company's stock.

Custom Truck One Source Stock Down 0.7%

Shares of NYSE:CTOS opened at $6.37 on Monday. The company has a market capitalization of $1.44 billion, a PE ratio of -39.78 and a beta of 1.26. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.26 and a quick ratio of 0.23. The business has a fifty day moving average price of $6.08 and a two-hundred day moving average price of $5.17. Custom Truck One Source, Inc. has a 1 year low of $3.17 and a 1 year high of $6.73.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.08). The business had revenue of $511.48 million for the quarter, compared to the consensus estimate of $460.73 million. Custom Truck One Source had a negative return on equity of 6.61% and a negative net margin of 1.89%.The company's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Custom Truck One Source has set its FY 2025 guidance at EPS. Analysts forecast that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Custom Truck One Source from $5.50 to $6.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 14th. Oppenheimer set a $8.00 price target on Custom Truck One Source and gave the company an "outperform" rating in a research report on Monday, August 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Custom Truck One Source in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus increased their target price on shares of Custom Truck One Source from $7.00 to $8.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.75.

About Custom Truck One Source

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).

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