Oppenheimer Issues Pessimistic Forecast for Custom Truck One Source (NYSE:CTOS) Stock Price

Custom Truck One Source (NYSE:CTOS) had its price target cut by Oppenheimer from $6.00 to $5.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential downside of 0.10% from the stock’s previous close.

Separately, JPMorgan Chase & Co. cut their target price on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.63.

Custom Truck One Source Price Performance

NYSE:CTOS opened at $5.01 on Tuesday. The firm’s 50-day simple moving average is $3.60 and its 200 day simple moving average is $4.22. Custom Truck One Source has a 52 week low of $3.03 and a 52 week high of $7.00. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -31.28 and a beta of 0.61. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.19 and a current ratio of 1.28.

Custom Truck One Source (NYSE:CTOS) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The company had revenue of $447.22 million during the quarter, compared to the consensus estimate of $448.46 million. Custom Truck One Source had a negative return on equity of 4.57% and a negative net margin of 2.22%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 EPS. As a group, sell-side analysts predict that Custom Truck One Source will post -0.13 earnings per share for the current year.

Insider Buying and Selling

In other Custom Truck One Source news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the completion of the sale, the insider now directly owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the transaction, the insider now owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Energy Capital Partners Manage sold 18,640 shares of the business’s 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 disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in Custom Truck One Source by 190.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock valued at $21,466,000 after acquiring an additional 3,234,586 shares in the last quarter. Black Diamond Financial LLC lifted its holdings in shares of Custom Truck One Source by 906.8% in the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock valued at $4,923,000 after purchasing an additional 1,285,265 shares in the last quarter. Maven Securities LTD bought a new position in shares of Custom Truck One Source in the second quarter valued at approximately $2,175,000. Heartland Advisors Inc. bought a new stake in Custom Truck One Source during the first quarter worth $2,456,000. Finally, Dimensional Fund Advisors LP raised its position in Custom Truck One Source by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock valued at $9,770,000 after buying an additional 410,895 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

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).