Custom Truck One Source (NYSE:CTOS) Announces Earnings Results

Custom Truck One Source (NYSE:CTOS) issued its earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04), Briefing.com reports. 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 4.51% and a negative net margin of 2.22%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. Custom Truck One Source updated its FY 2024 guidance to EPS.

Custom Truck One Source Stock Performance

Shares of Custom Truck One Source stock traded up $0.06 during mid-day trading on Friday, hitting $4.15. The stock had a trading volume of 105,285 shares, compared to its average volume of 598,898. The firm has a 50-day moving average of $3.61 and a two-hundred day moving average of $4.26. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.20 and a current ratio of 1.30. Custom Truck One Source has a 12-month low of $3.03 and a 12-month high of $7.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Oppenheimer cut their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Custom Truck One Source has a consensus rating of “Moderate Buy” and an average target price of $5.88.

Insider Activity

In other Custom Truck One Source news, insider Thomas R. Rich bought 26,200 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $3.84 per share, with a total value of $100,608.00. Following the purchase, the insider now owns 224,778 shares in the company, valued at approximately $863,147.52. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Custom Truck One Source news, Director Energy Capital Partners Manage sold 18,640 shares of Custom Truck One Source stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $4.17, for a total value of $77,728.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas R. Rich acquired 26,200 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $3.84 per share, with a total value 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. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.60% of the company’s stock.

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).