Custom Truck One Source (NYSE:CTOS) Stock Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• CTOS rose 7.2% and moved above its 50-day moving average, trading as high as $10.16 and last at about $10.01, versus a 50-day average of $9.45.
• Analyst sentiment is mixed: the consensus rating is Hold with a $12 price target, though several firms maintain Buy or Overweight ratings and targets of $13–$14.
• Quarterly EPS of $0.01 matched estimates, while revenue of $495.22 million fell short of the $516.51 million consensus; revenue nevertheless increased 2.7% year over year.

Custom Truck One Source, Inc. (NYSE:CTOS - Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $9.45 and traded as high as $10.16. Custom Truck One Source shares last traded at $10.0060, with a volume of 1,496,887 shares changing hands.

Analyst Ratings Changes

Several research firms have recently commented on CTOS. DA Davidson reissued a "buy" rating and issued a $13.00 price target on shares of Custom Truck One Source in a research report on Tuesday, October 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $14.00 price objective on shares of Custom Truck One Source in a research report on Tuesday, October 27th. Oppenheimer raised their price objective on Custom Truck One Source from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Zacks Research lowered Custom Truck One Source from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Finally, Robert W. Baird boosted their target price on shares of Custom Truck One Source from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Custom Truck One Source presently has an average rating of "Hold" and a consensus target price of $12.00.

Custom Truck One Source Trading Up 7.2%

The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 76.97 and a beta of 1.46. The company has a quick ratio of 0.25, a current ratio of 1.28 and a debt-to-equity ratio of 2.01. The company's 50 day simple moving average is $9.45 and its two-hundred day simple moving average is $8.95.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last released its quarterly earnings results on Monday, October 26th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $495.22 million for the quarter, compared to analyst estimates of $516.51 million. Custom Truck One Source had a net margin of 1.44% and a return on equity of 3.63%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) earnings per share. As a group, research analysts anticipate that Custom Truck One Source, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Custom Truck One Source in the 2nd quarter valued at $28,000. Quantinno Capital Management LP increased its stake in shares of Custom Truck One Source by 27.0% in the first quarter. Quantinno Capital Management LP now owns 19,628 shares of the company's stock worth $129,000 after acquiring an additional 4,174 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Custom Truck One Source in the third quarter worth $94,000. Entropy Technologies LP purchased a new position in shares of Custom Truck One Source during the first quarter worth $111,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Custom Truck One Source during the first quarter worth $125,000. 90.07% of the stock is owned by institutional investors and hedge funds.

About Custom Truck One Source

Custom Truck One Source, Inc provides specialized trucks and equipment, along with rental, sales, parts and service for customers in utility, telecommunications, rail, forestry and other infrastructure-related industries. The company serves customers across North America.

Its offerings include aerial lifts, bucket trucks, digger derricks, cranes, forestry equipment and rail equipment. Customers can rent or buy new and used equipment, and the company also provides maintenance, repair, refurbishment and equipment customization services.

Custom Truck One Source was formed in 2015 through the combination of several specialty equipment businesses.

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