Custom Truck One Source (NYSE:CTOS) Trading 5.2% Higher Following Analyst Upgrade

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price rose 5.2% during mid-day trading on Thursday after Oppenheimer raised their price target on the stock from $5.00 to $6.00. Oppenheimer currently has an outperform rating on the stock. Custom Truck One Source traded as high as $4.97 and last traded at $5.08. Approximately 166,219 shares traded hands during trading, a decline of 78% from the average daily volume of 762,715 shares. The stock had previously closed at $4.83.

Insider Activity at Custom Truck One Source

In other news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $32,574,540.00. Following the purchase, the insider now directly owns 156,743,635 shares in the company, valued at approximately $626,974,540. This trade represents a 5.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in Custom Truck One Source in the 4th quarter worth $29,000. R Squared Ltd purchased a new stake in Custom Truck One Source in the 4th quarter worth $39,000. KLP Kapitalforvaltning AS purchased a new stake in Custom Truck One Source in the 4th quarter worth $56,000. Two Sigma Investments LP purchased a new stake in shares of Custom Truck One Source during the fourth quarter worth $63,000. Finally, Platform Technology Partners purchased a new stake in shares of Custom Truck One Source during the fourth quarter worth $66,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Price Performance

The firm has a market cap of $1.16 billion, a PE ratio of -31.03 and a beta of 0.67. The stock’s fifty day moving average price is $4.84 and its 200-day moving average price is $4.51. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19.

Custom Truck One Source Company Profile

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).