Custom Truck One Source (NYSE:CTOS) Reaches New 12-Month High – Here’s Why
by Kim Johansen · The Markets DailyCustom Truck One Source, Inc. (NYSE:CTOS – Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $6.80 and last traded at $6.5650, with a volume of 290362 shares changing hands. The stock had previously closed at $6.59.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CTOS. JPMorgan Chase & Co. boosted their target price on shares of Custom Truck One Source from $6.00 to $6.50 and gave the stock an “underweight” rating in a report on Wednesday, January 14th. Robert W. Baird set a $6.50 price objective on Custom Truck One Source in a research report on Wednesday, October 29th. Zacks Research upgraded Custom Truck One Source from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Custom Truck One Source in a report on Wednesday, January 21st. Finally, Stifel Nicolaus lifted their price target on Custom Truck One Source from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.25.
View Our Latest Stock Report on Custom Truck One Source
Custom Truck One Source Price Performance
The company has a current ratio of 1.27, a quick ratio of 0.22 and a debt-to-equity ratio of 2.08. The stock has a 50-day simple moving average of $6.18 and a 200 day simple moving average of $6.06. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -54.46 and a beta of 1.16.
Institutional Investors Weigh In On Custom Truck One Source
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTOS. BNP Paribas Financial Markets grew its holdings in shares of Custom Truck One Source by 92.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,859 shares of the company’s stock valued at $29,000 after acquiring an additional 2,809 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Custom Truck One Source in the 2nd quarter valued at approximately $35,000. Oak Thistle LLC acquired a new position in Custom Truck One Source in the fourth quarter worth approximately $58,000. Jane Street Group LLC bought a new position in Custom Truck One Source during the second quarter valued at approximately $58,000. Finally, R Squared Ltd acquired a new stake in Custom Truck One Source in the second quarter valued at approximately $59,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.
About Custom Truck One Source
Custom Truck One Source, Inc (NYSE: CTOS) is a North American provider of specialty rental equipment, parts and services. The company’s fleet encompasses a wide range of assets, including cranes, aerial work platforms, trench safety and shoring equipment, fluid management solutions, generators and other industrial machinery. Customers rely on Custom Truck One Source to support projects in construction, energy, telecommunications, industrial manufacturing, municipalities and large-scale events.
Headquartered in Plano, Texas, Custom Truck One Source has expanded through a combination of organic growth and strategic acquisitions to establish a network of more than 140 branch locations across the United States and Canada.