Custom Truck One Source (NYSE:CTOS) Rating Increased to Strong-Buy at Cantor Fitzgerald

Custom Truck One Source (NYSE:CTOS) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Several other equities research analysts have also recently commented on CTOS. JPMorgan Chase & Co. cut their price target on shares of Custom Truck One Source from $6.50 to $6.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research report on Monday. Finally, DA Davidson reissued a “buy” rating and set a $8.50 price target on shares of Custom Truck One Source in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.

Custom Truck One Source Price Performance

Shares of NYSE CTOS opened at $8.35 on Tuesday. The firm has a market cap of $1.89 billion, a PE ratio of -55.63 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.26 and a debt-to-equity ratio of 2.00. Custom Truck One Source has a 1-year low of $3.67 and a 1-year high of $8.46. The company has a fifty day moving average price of $6.87 and a 200 day moving average price of $6.42.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings results on Tuesday, March 10th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. Custom Truck One Source had a negative net margin of 1.60% and a negative return on equity of 3.88%. The firm had revenue of $528.18 million for the quarter, compared to analysts’ expectations of $584.76 million. During the same period in the previous year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Research analysts predict that Custom Truck One Source will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC bought a new stake in shares of Custom Truck One Source in the 4th quarter valued at about $28,000. BNP Paribas Financial Markets raised its holdings in shares of Custom Truck One Source by 92.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after purchasing an additional 2,809 shares during the period. Quantbot Technologies LP bought a new stake in shares of Custom Truck One Source in the 2nd quarter valued at about $35,000. Oak Thistle LLC bought a new stake in shares of Custom Truck One Source in the 4th quarter valued at about $58,000. Finally, Jane Street Group LLC bought a new stake in shares of Custom Truck One Source in the 2nd quarter valued at about $58,000. 90.07% of the stock is owned by institutional investors.

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.