Custom Truck One Source (NYSE:CTOS) Trading 5.2% Higher Following Analyst Upgrade

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price was up 5.2% during trading on Thursday after Oppenheimer raised their price target on the stock from $5.00 to $6.00. Oppenheimer currently has an outperform rating on the stock. Custom Truck One Source traded as high as $4.97 and last traded at $5.08. Approximately 166,219 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 762,715 shares. The stock had previously closed at $4.83.

Insider Activity

In other Custom Truck One Source news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $4.00 per share, with a total value of $32,574,540.00. Following the purchase, the insider now owns 156,743,635 shares of the company’s stock, valued at $626,974,540. This trade represents a 5.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Trading of Custom Truck One Source

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Custom Truck One Source by 939.4% in the third quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock valued at $1,699,000 after purchasing an additional 445,038 shares in the last quarter. Canvas Wealth Advisors LLC raised its position in shares of Custom Truck One Source by 8.0% during the 4th quarter. Canvas Wealth Advisors LLC now owns 4,108,354 shares of the company’s stock valued at $19,761,000 after buying an additional 303,744 shares in the last quarter. Barclays PLC raised its position in shares of Custom Truck One Source by 349.6% during the 3rd quarter. Barclays PLC now owns 84,526 shares of the company’s stock valued at $291,000 after buying an additional 65,725 shares in the last quarter. Black Diamond Financial LLC lifted its holdings in shares of 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 acquiring an additional 1,285,265 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Custom Truck One Source by 15.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock worth $378,000 after acquiring an additional 14,906 shares in the last quarter. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Stock Up 2.8 %

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 50 day simple moving average of $4.84 and a two-hundred day simple moving average of $4.51. The company has a market capitalization of $1.16 billion, a P/E ratio of -31.03 and a beta of 0.67.

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).