Custom Truck One Source (NYSE:CTOS) Stock Price Up 6.4% – Here’s What Happened

Shares of Custom Truck One Source, Inc. (NYSE:CTOS) traded up 6.4% during trading on Friday . The stock traded as high as $4.92 and last traded at $4.93. 123,144 shares were traded during mid-day trading, a decline of 81% from the average session volume of 642,855 shares. The stock had previously closed at $4.63.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lowered their price target on Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Custom Truck One Source Trading Up 2.7 %

The company’s fifty day moving average price is $5.11 and its two-hundred day moving average price is $4.40. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -29.72 and a beta of 0.79.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The business had revenue of $447.22 million for the quarter, compared to analyst estimates of $448.46 million. Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. Research analysts expect that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

A number of hedge funds have recently added to or reduced their stakes in CTOS. Dimensional Fund Advisors LP grew its stake in shares of Custom Truck One Source by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after purchasing an additional 410,895 shares during the last quarter. Black Diamond Financial LLC boosted its position in Custom Truck One Source by 906.8% in the 3rd quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after buying an additional 1,285,265 shares during the last quarter. Maven Securities LTD acquired a new stake in shares of Custom Truck One Source in the 2nd quarter valued at $2,175,000. JPMorgan Chase & Co. lifted its stake in shares of Custom Truck One Source by 939.4% during the third quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock valued at $1,699,000 after acquiring an additional 445,038 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in shares of Custom Truck One Source during the second quarter valued at $1,328,000. Institutional investors own 90.07% 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).