Custom Truck One Source (NYSE:CTOS) Shares Down 5.5% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) traded down 5.5% on Monday . The company traded as low as $4.66 and last traded at $4.66. 79,487 shares traded hands during trading, a decline of 87% from the average session volume of 608,852 shares. The stock had previously closed at $4.93.

Analysts Set New Price Targets

Separately, Oppenheimer decreased their price objective on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.63.

Custom Truck One Source Trading Down 5.1 %

The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19. The firm has a market capitalization of $1.09 billion, a PE ratio of -29.25 and a beta of 0.78. The firm’s fifty day moving average is $4.75 and its two-hundred day moving average is $4.37.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $447.22 million during the quarter, compared to analysts’ expectations of $448.46 million. Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. On average, equities analysts predict that Custom Truck One Source, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTOS. Allspring Global Investments Holdings LLC lifted its position in shares of Custom Truck One Source by 190.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock worth $21,466,000 after acquiring an additional 3,234,586 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Custom Truck One Source by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after purchasing an additional 410,895 shares during the period. Black Diamond Financial LLC lifted its holdings in Custom Truck One Source by 906.8% during the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after purchasing an additional 1,285,265 shares in the last quarter. Maven Securities LTD bought a new position in Custom Truck One Source in the 2nd quarter worth about $2,175,000. Finally, First Eagle Investment Management LLC purchased a new position in Custom Truck One Source during the 2nd quarter valued at about $1,328,000. 90.07% of the stock is currently owned by institutional investors.

About Custom Truck One Source

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).