Custom Truck One Source (NYSE:CTOS) Trading Up 4.3% – Time to Buy?

Custom Truck One Source, Inc. (NYSE:CTOS)’s share price traded up 4.3% during trading on Friday . The company traded as high as $5.11 and last traded at $5.11. 83,982 shares changed hands during trading, a decline of 86% from the average session volume of 604,886 shares. The stock had previously closed at $4.90.

Analyst Ratings Changes

Separately, Oppenheimer cut their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Custom Truck One Source currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.63.

Custom Truck One Source Price Performance

The stock has a fifty day simple moving average of $4.75 and a 200-day simple moving average of $4.37. The company has a market capitalization of $1.15 billion, a PE ratio of -30.81 and a beta of 0.78. The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results 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 for 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%. Custom Truck One Source’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS. Equities analysts anticipate that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in Custom Truck One Source in the second quarter valued at $47,000. Intech Investment Management LLC purchased a new stake in shares of Custom Truck One Source in the 3rd quarter valued at about $56,000. SG Americas Securities LLC acquired a new stake in shares of Custom Truck One Source in the 3rd quarter valued at about $64,000. FMR LLC grew its stake in 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 buying an additional 26,685 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in Custom Truck One Source by 20.5% during the third quarter. D.A. Davidson & CO. now owns 29,240 shares of the company’s stock worth $101,000 after buying an additional 4,975 shares during the period. 90.07% of the stock is owned by hedge funds and other 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).