T. Rowe Price Investment Management Inc. Buys 316,642 Shares of Custom Truck One Source, Inc. $CTOS

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Custom Truck One Source by 4.3%, acquiring 316,642 shares to own a total of 7,724,424 shares, worth approximately $32.6 million.
• Custom Truck One Source reported a loss of $0.13 per share for the last quarter, missing analysts' expectations, despite revenue increasing by 20.9% year-over-year to $511.48 million.
• The stock is currently rated as a "Hold" by analysts, with a median price target of $6.38, reflecting mixed sentiment among equity researchers.

T. Rowe Price Investment Management Inc. increased its position in Custom Truck One Source, Inc. (NYSE:CTOS - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,724,424 shares of the company's stock after buying an additional 316,642 shares during the quarter. T. Rowe Price Investment Management Inc. owned 3.42% of Custom Truck One Source worth $32,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Maven Securities LTD lifted its position in Custom Truck One Source by 114.2% in the first quarter. Maven Securities LTD now owns 85,673 shares of the company's stock valued at $362,000 after purchasing an additional 45,673 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Custom Truck One Source by 3.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 110,500 shares of the company's stock valued at $466,000 after buying an additional 3,800 shares during the period. Sei Investments Co. increased its stake in shares of Custom Truck One Source by 4.0% during the first quarter. Sei Investments Co. now owns 129,520 shares of the company's stock valued at $547,000 after buying an additional 4,955 shares during the period. Nuveen LLC purchased a new position in shares of Custom Truck One Source during the first quarter valued at approximately $699,000. Finally, Invesco Ltd. grew its stake in Custom Truck One Source by 12.8% in the first quarter. Invesco Ltd. now owns 110,816 shares of the company's stock worth $468,000 after purchasing an additional 12,617 shares during the period. Institutional investors own 90.07% of the company's stock.

Custom Truck One Source Price Performance

CTOS traded up $0.05 on Friday, hitting $6.16. 185,090 shares of the company's stock traded hands, compared to its average volume of 731,814. The company has a current ratio of 1.26, a quick ratio of 0.23 and a debt-to-equity ratio of 2.01. Custom Truck One Source, Inc. has a one year low of $3.03 and a one year high of $6.64. The company's 50 day simple moving average is $5.59 and its 200-day simple moving average is $4.81. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -38.47 and a beta of 1.27.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTOS. Stifel Nicolaus set a $7.00 price target on Custom Truck One Source and gave the stock a "buy" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $5.50 price objective (down from $6.00) on shares of Custom Truck One Source in a research report on Wednesday, August 20th. Finally, Oppenheimer set a $8.00 target price on Custom Truck One Source and gave the stock an "outperform" rating in a research report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Custom Truck One Source has a consensus rating of "Hold" and an average price target of $6.38.

Custom Truck One Source 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).