Custom Truck One Source (NYSE:CTOS) Reaches New 1-Year High – Time to Buy?

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) reached a new 52-week high during trading on Tuesday . The company traded as high as $6.80 and last traded at $6.5650, with a volume of 290362 shares. The stock had previously closed at $6.59.

Wall Street Analyst Weigh In

Several research firms recently commented on CTOS. Zacks Research upgraded shares of Custom Truck One Source from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Robert W. Baird set a $6.50 target price on shares of Custom Truck One Source in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a report on Wednesday, January 21st. Stifel Nicolaus upped their price objective on shares of Custom Truck One Source from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Custom Truck One Source from $6.00 to $6.50 and gave the company an “underweight” rating in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Custom Truck One Source presently has a consensus rating of “Hold” and an average target price of $7.25.

Custom Truck One Source Price Performance

The company has a quick ratio of 0.22, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. The company has a 50 day simple moving average of $6.18 and a 200-day simple moving average of $6.06. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -54.46 and a beta of 1.16.

Hedge Funds Weigh In On Custom Truck One Source

A number of large investors have recently bought and sold shares of CTOS. EFG Asset Management North America Corp. bought a new position in Custom Truck One Source in the 3rd quarter worth approximately $1,762,000. Sendero Wealth Management LLC increased its stake in Custom Truck One Source by 140.0% during the 2nd quarter. Sendero Wealth Management LLC now owns 390,797 shares of the company’s stock valued at $1,931,000 after buying an additional 227,997 shares during the period. Boston Partners boosted its holdings in shares of Custom Truck One Source by 71.5% in the second quarter. Boston Partners now owns 5,433,075 shares of the company’s stock valued at $26,849,000 after acquiring an additional 2,264,366 shares in the last quarter. Geode Capital Management LLC lifted its position in Custom Truck One Source by 12.7% in the second quarter. Geode Capital Management LLC now owns 1,346,479 shares of the company’s stock worth $6,653,000 after purchasing an additional 152,173 shares during the period. Finally, Canvas Wealth Advisors LLC grew its holdings in Custom Truck One Source by 6.5% during the second quarter. Canvas Wealth Advisors LLC now owns 4,760,683 shares of the company’s stock worth $23,518,000 after acquiring an additional 292,341 shares during the period. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc (NYSE: CTOS) is a North American provider of specialty rental equipment, parts and services. The company’s fleet encompasses a wide range of assets, including cranes, aerial work platforms, trench safety and shoring equipment, fluid management solutions, generators and other industrial machinery. Customers rely on Custom Truck One Source to support projects in construction, energy, telecommunications, industrial manufacturing, municipalities and large-scale events.

Headquartered in Plano, Texas, Custom Truck One Source has expanded through a combination of organic growth and strategic acquisitions to establish a network of more than 140 branch locations across the United States and Canada.