Custom Truck One Source (NYSE:CTOS) Shares Up 6.4% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) shares traded up 6.4% during trading on Friday . The stock traded as high as $4.92 and last traded at $4.93. 123,144 shares were traded during trading, a decline of 81% from the average session volume of 642,855 shares. The stock had previously closed at $4.63.

Analysts Set New Price Targets

Separately, Oppenheimer cut 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.

Custom Truck One Source Stock Performance

The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -29.47 and a beta of 0.79. The stock’s fifty day simple moving average is $5.12 and its 200-day simple moving average is $4.40.

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

Hedge Funds Weigh In On Custom Truck One Source

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Black Diamond Financial LLC raised its holdings in Custom Truck One Source by 906.8% in the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after acquiring an additional 1,285,265 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Custom Truck One Source by 15.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock valued at $378,000 after purchasing an additional 14,906 shares during the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Custom Truck One Source in the 2nd quarter valued at $1,328,000. Maven Securities LTD purchased a new stake in shares of Custom Truck One Source during the 2nd quarter worth $2,175,000. Finally, FMR LLC lifted its position in shares of Custom Truck One Source by 1,234.8% during the 3rd quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after purchasing an additional 26,685 shares during the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.

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).