Custom Truck One Source (NYSE:CTOS) Sets New 52-Week Low at $3.24

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.24 and last traded at $3.32, with a volume of 27611 shares trading hands. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

CTOS has been the topic of a number of analyst reports. Oppenheimer lowered their price objective on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a research 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. Finally, Stifel Nicolaus initiated coverage on Custom Truck One Source in a research note on Friday, June 14th. They set a “hold” rating and a $5.50 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.30.

Custom Truck One Source Stock Up 2.1 %

The company has a debt-to-equity ratio of 1.78, a current ratio of 1.30 and a quick ratio of 0.20. The firm has a market capitalization of $807.80 million, a price-to-earnings ratio of 32.90 and a beta of 0.63. The firm’s 50-day moving average price is $4.09 and its 200 day moving average price is $4.59.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $456.23 million. Custom Truck One Source had a negative return on equity of 1.51% and a negative net margin of 0.75%. Custom Truck One Source’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. Sell-side analysts expect that Custom Truck One Source, Inc. will post -0.12 EPS 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 that occurred on 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Energy Capital Partners Manage sold 18,640 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $4.17, for a total value of $77,728.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $3.42, for a total value of $8,051,052.78. Following the transaction, the insider now directly owns 23,384,879 shares in the company, valued at $79,976,286.18. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTOS. Maven Securities LTD purchased a new stake in shares of Custom Truck One Source during the second quarter worth about $2,175,000. First Eagle Investment Management LLC acquired a new position in shares of Custom Truck One Source in the 2nd quarter valued at approximately $1,328,000. Dimensional Fund Advisors LP grew its position 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 worth $9,770,000 after buying an additional 410,895 shares in the last quarter. Black Diamond Financial LLC increased its holdings in Custom Truck One Source by 16.5% in the second quarter. Black Diamond Financial LLC now owns 141,735 shares of the company’s stock valued at $617,000 after buying an additional 20,100 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Custom Truck One Source during the second quarter valued at approximately $47,000. 90.07% of the stock is 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).