Sapient Capital LLC Sells 95,820 Shares of Custom Truck One Source, Inc. $CTOS

Key Points

• Sapient Capital LLC cut its Custom Truck One Source stake by 75% in the second quarter, selling 95,820 shares and retaining 31,940 shares valued at approximately $377,000.
• Custom Truck One Source reported quarterly EPS of $0.05, beating estimates of $0.01, while revenue rose 10.2% year over year to $563.45 million, above expectations.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $11.21; shares recently traded at $10.63, while institutional investors own 90.07% of the company.

Sapient Capital LLC decreased its position in shares of Custom Truck One Source, Inc. (NYSE:CTOS - Free Report) by 75.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,940 shares of the company's stock after selling 95,820 shares during the period. Sapient Capital LLC's holdings in Custom Truck One Source were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new stake in shares of Custom Truck One Source in the 4th quarter valued at $28,000. BNP Paribas Financial Markets raised its holdings 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 worth $29,000 after buying an additional 2,809 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Custom Truck One Source during the 2nd quarter worth $35,000. Jane Street Group LLC bought a new stake in shares of Custom Truck One Source during the 2nd quarter worth $58,000. Finally, AQR Capital Management LLC acquired a new stake in Custom Truck One Source in the first quarter valued at about $63,000. 90.07% of the stock is owned by institutional investors.

Custom Truck One Source Price Performance

Shares of CTOS opened at $10.63 on Wednesday. Custom Truck One Source, Inc. has a 12-month low of $5.18 and a 12-month high of $12.23. The business has a 50-day simple moving average of $10.61 and a two-hundred day simple moving average of $8.67. The company has a quick ratio of 0.29, a current ratio of 1.34 and a debt-to-equity ratio of 2.03. The stock has a market cap of $2.42 billion, a PE ratio of 118.10 and a beta of 1.38.

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

Analyst Ratings Changes

CTOS has been the subject of several research analyst reports. Oppenheimer boosted their target price on Custom Truck One Source from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Capital One Financial set a $13.00 price target on shares of Custom Truck One Source in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price target on shares of Custom Truck One Source from $6.00 to $8.00 and gave the company an "underweight" rating in a report on Wednesday, April 29th. Stifel Nicolaus upped their price objective on shares of Custom Truck One Source from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald increased their price objective on shares of Custom Truck One Source from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.21.

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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