Stifel Nicolaus Issues Positive Forecast for Custom Truck One Source (NYSE:CTOS) Stock Price

Key Points

• Stifel Nicolaus raised its price target from $8.00 to $11.00 and kept a Buy rating, implying roughly a 22% upside from the stock's current level.
• Analyst views are mixed: the consensus is a Hold with a $8.50 target (four Buys, one Hold, two Sells), while firms like Cantor Fitzgerald are Overweight at $11 and JPMorgan trimmed its target to $6 and flagged an Underweight.
• Custom Truck One Source slightly beat Q1 estimates—EPS ($0.02) vs. ($0.05) expected and revenue $461.6M (+9.3% YoY)—but remains unprofitable with a negative net margin and ROE, and its shares trade near the 52‑week high (~$9).

Custom Truck One Source (NYSE:CTOS - Get Free Report) had its price objective lifted by equities research analysts at Stifel Nicolaus from $8.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 22.06% from the company's current price.

CTOS has been the topic of several other reports. Weiss Ratings restated a "sell (d-)" rating on shares of Custom Truck One Source in a report on Monday, April 20th. DA Davidson restated a "buy" rating and set a $8.50 target price on shares of Custom Truck One Source in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Custom Truck One Source from $6.50 to $6.00 and set an "underweight" rating for the company in a research note on Wednesday, March 11th. Finally, Cantor Fitzgerald assumed coverage on shares of Custom Truck One Source in a research note on Tuesday, April 21st. They set an "overweight" rating and a $11.00 price target for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $8.50.

Custom Truck One Source Stock Performance

Shares of NYSE:CTOS opened at $9.01 on Wednesday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -100.13 and a beta of 1.12. The firm's 50 day simple moving average is $7.02 and its 200 day simple moving average is $6.50. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.33 and a quick ratio of 0.26. Custom Truck One Source has a fifty-two week low of $3.77 and a fifty-two week high of $9.35.

Custom Truck One Source (NYSE:CTOS - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $461.62 million for the quarter, compared to the consensus estimate of $448.27 million. Custom Truck One Source had a negative net margin of 0.88% and a negative return on equity of 2.18%. Custom Truck One Source's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. As a group, sell-side analysts forecast that Custom Truck One Source will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in Custom Truck One Source in the 1st quarter valued at about $71,000. AQR Capital Management LLC bought a new stake in Custom Truck One Source during the first quarter worth about $63,000. Goldman Sachs Group Inc. lifted its position in Custom Truck One Source by 223.5% during the first quarter. Goldman Sachs Group Inc. now owns 529,589 shares of the company's stock worth $2,235,000 after purchasing an additional 365,862 shares during the period. Envestnet Asset Management Inc. lifted its position in Custom Truck One Source by 9.5% during the second quarter. Envestnet Asset Management Inc. now owns 31,855 shares of the company's stock worth $157,000 after purchasing an additional 2,773 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Custom Truck One Source by 16.0% during the second quarter. JPMorgan Chase & Co. now owns 29,422 shares of the company's stock worth $145,000 after acquiring an additional 4,058 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company's stock.

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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