Custom Truck One Source (NYSE:CTOS) Raised to Strong-Buy at Zacks Research

by · The Markets Daily

Custom Truck One Source (NYSE:CTOS – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also recently issued reports on CTOS. Cantor Fitzgerald upped their target price on shares of Custom Truck One Source from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Stifel Nicolaus lifted their price target on shares of Custom Truck One Source from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Robert W. Baird boosted their price target on shares of Custom Truck One Source from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday. Capital One Financial set a $13.00 price objective on shares of Custom Truck One Source in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Custom Truck One Source presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.21.

Check Out Our Latest Stock Report on Custom Truck One Source

Custom Truck One Source Stock Performance

Shares of CTOS opened at $10.99 on Wednesday. The stock has a 50 day moving average price of $10.55 and a 200 day moving average price of $8.58. The company has a quick ratio of 0.25, a current ratio of 1.34 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 122.13 and a beta of 1.38. Custom Truck One Source has a 52-week low of $5.18 and a 52-week high of $12.23.

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 the consensus estimate of $0.01 by $0.04. Custom Truck One Source had a net margin of 1.05% and a return on equity of 2.66%. The company had revenue of $563.45 million for the quarter, compared to analyst estimates of $509.76 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts predict that Custom Truck One Source will post 0.11 EPS for the current fiscal year.

Institutional Trading of Custom Truck One Source

A number of hedge funds have recently added to or reduced their stakes in CTOS. M&T Bank Corp grew its position in Custom Truck One Source by 3,477.5% in the 4th quarter. M&T Bank Corp now owns 938,098 shares of the company’s stock valued at $5,403,000 after buying an additional 911,876 shares during the last quarter. First Trust Advisors LP increased its stake in Custom Truck One Source by 221.9% in the 4th quarter. First Trust Advisors LP now owns 1,222,875 shares of the company’s stock valued at $7,044,000 after buying an additional 842,964 shares during the period. Alyeska Investment Group L.P. increased its stake in Custom Truck One Source by 42.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,500,229 shares of the company’s stock valued at $14,401,000 after buying an additional 750,000 shares during the period. Dimensional Fund Advisors LP raised its position in Custom Truck One Source by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,602,838 shares of the company’s stock worth $36,806,000 after buying an additional 741,857 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Custom Truck One Source by 154.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,056,550 shares of the company’s stock worth $6,942,000 after buying an additional 642,109 shares during the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

(Get Free Report)

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.

Further Reading