Custom Truck One Source (NYSE:CTOS) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Custom Truck One Source (NYSE:CTOS) from a sell rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Custom Truck One Source Inc. is a provider of specialized truck and heavy equipment solutions to the utility, telecommunications, rail and infrastructure markets principally in North America. The Company’s solutions include rentals, sales, aftermarket parts, tools, accessories and service, equipment production, manufacturing, financing solutions and asset disposal. Custom Truck One Source Inc., formerly known as Nesco Holdings Inc., is based in KANSAS CITY, Mo. “

Other analysts have also recently issued reports about the company. Citigroup assumed coverage on Custom Truck One Source in a report on Monday, December 20th. They set a buy rating on the stock. Stifel Nicolaus assumed coverage on Custom Truck One Source in a report on Monday, December 6th. They set a buy rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $10.67.

Custom Truck One Source stock opened at $7.80 on Tuesday. Custom Truck One Source has a 12-month low of $6.09 and a 12-month high of $11.36. The company has a quick ratio of 0.54, a current ratio of 1.45 and a debt-to-equity ratio of 1.55. The business’s 50-day moving average price is $8.31 and its two-hundred day moving average price is $8.50. The stock has a market cap of $1.93 billion, a PE ratio of -5.86, a P/E/G ratio of 5.00 and a beta of 0.25.

Custom Truck One Source (NYSE:CTOS) last released its earnings results on Tuesday, November 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). Custom Truck One Source had a negative net margin of 20.71% and a negative return on equity of 26.85%. The business had revenue of $357.31 million during the quarter, compared to the consensus estimate of $291.90 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, analysts expect that Custom Truck One Source will post -1.05 earnings per share for the current year.

In other Custom Truck One Source news, major shareholder Holdings L.P. Blackstone III sold 12,322,975 shares of the business’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $8.20, for a total value of $101,048,395.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas R. Rich purchased 15,000 shares of the company’s stock in a transaction on Monday, December 13th. The stock was acquired at an average cost of $7.62 per share, for a total transaction of $114,300.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 25,000 shares of company stock worth $190,500. 4.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bedel Financial Consulting Inc. lifted its stake in Custom Truck One Source by 62.8% in the fourth quarter. Bedel Financial Consulting Inc. now owns 106,552 shares of the company’s stock valued at $852,000 after buying an additional 41,104 shares during the period. American International Group Inc. increased its holdings in shares of Custom Truck One Source by 246.9% during the third quarter. American International Group Inc. now owns 25,295 shares of the company’s stock valued at $236,000 after acquiring an additional 18,004 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Custom Truck One Source by 171.5% during the third quarter. Bank of New York Mellon Corp now owns 118,273 shares of the company’s stock valued at $1,103,000 after acquiring an additional 74,708 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Custom Truck One Source by 252.1% during the third quarter. Two Sigma Advisers LP now owns 93,300 shares of the company’s stock valued at $870,000 after acquiring an additional 66,800 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Custom Truck One Source by 48.5% during the third quarter. Two Sigma Investments LP now owns 81,900 shares of the company’s stock valued at $764,000 after acquiring an additional 26,744 shares in the last quarter. 88.93% of the stock is currently owned by hedge funds and other institutional investors.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc engages in the sale and rental of truck and heavy equipment. The firm offers aftermarket parts and service, equipment customization, remanufacturing, financing solutions, and asset disposal services. The company is headquartered in Kansas City, MO.

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