Custom Truck One Source (NYSE:CTOS) Reaches New 1-Year Low at $3.24

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.24 and last traded at $3.32, with a volume of 27611 shares. The stock had previously closed at $3.29.

Analyst Ratings Changes

Several research analysts have recently commented on CTOS shares. Oppenheimer decreased their price target on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus started coverage on Custom Truck One Source in a report on Friday, June 14th. They set a “hold” rating and a $5.50 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Custom Truck One Source has an average rating of “Moderate Buy” and an average price target of $6.30.

Custom Truck One Source Price Performance

The company has a market cap of $807.80 million, a price-to-earnings ratio of 32.90 and a beta of 0.63. The company has a current ratio of 1.30, a quick ratio of 0.20 and a debt-to-equity ratio of 1.78. The business has a 50-day moving average price of $4.09 and a 200 day moving average price of $4.59.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The company had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $456.23 million. Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.51%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. As a group, research analysts expect that Custom Truck One Source, Inc. will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of Custom Truck One Source stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $3.42, for a total value of $8,051,052.78. Following the transaction, the insider now directly owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Custom Truck One Source news, insider Thomas R. Rich acquired 26,200 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $3.84 per share, for a total transaction of $100,608.00. Following the transaction, the insider now owns 224,778 shares of the company’s stock, valued at approximately $863,147.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of Custom Truck One Source stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $3.42, for a total value of $8,051,052.78. Following the sale, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Custom Truck One Source

A number of institutional investors have recently added to or reduced their stakes in CTOS. Quadrature Capital Ltd lifted its stake in shares of Custom Truck One Source by 9.7% in the 4th quarter. Quadrature Capital Ltd now owns 29,875 shares of the company’s stock valued at $184,000 after purchasing an additional 2,636 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Custom Truck One Source by 21.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,395 shares of the company’s stock valued at $96,000 after acquiring an additional 2,882 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of Custom Truck One Source in the first quarter worth $58,000. Sendero Wealth Management LLC increased its position in Custom Truck One Source by 6.5% during the second quarter. Sendero Wealth Management LLC now owns 162,800 shares of the company’s stock worth $708,000 after acquiring an additional 10,000 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Custom Truck One Source during the 2nd quarter valued at $47,000. 90.07% of the stock is currently owned by institutional investors and hedge funds.

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).