Custom Truck One Source (NYSE:CTOS) Given New $7.00 Price Target at Robert W. Baird

Custom Truck One Source (NYSE:CTOS) had its price objective reduced by Robert W. Baird from $8.00 to $7.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Custom Truck One Source Stock Performance

Shares of CTOS traded down $0.73 during midday trading on Friday, reaching $4.17. 2,392,718 shares of the stock were exchanged, compared to its average volume of 600,693. The business’s 50-day moving average price is $5.59 and its 200 day moving average price is $5.94. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.41 and a quick ratio of 0.31. Custom Truck One Source has a twelve month low of $3.61 and a twelve month high of $7.53. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 0.93 and a beta of 0.69.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Custom Truck One Source had a return on equity of 2.46% and a net margin of 1.24%. The company had revenue of $411.31 million for the quarter, compared to analysts’ expectations of $455.98 million. During the same period in the prior year, the business earned $0.06 EPS. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Custom Truck One Source will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

A number of institutional investors have recently added to or reduced their stakes in the business. Canvas Wealth Advisors LLC boosted its holdings in Custom Truck One Source by 2.2% in the 1st quarter. Canvas Wealth Advisors LLC now owns 3,487,228 shares of the company’s stock valued at $20,296,000 after purchasing an additional 73,986 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Custom Truck One Source by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,251,103 shares of the company’s stock worth $20,157,000 after acquiring an additional 52,437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Custom Truck One Source by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,156,983 shares of the company’s stock worth $13,373,000 after acquiring an additional 185,272 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Custom Truck One Source by 3.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,878,893 shares of the company’s stock worth $11,612,000 after acquiring an additional 70,005 shares in the last quarter. Finally, R.P. Boggs & Co. boosted its stake in shares of Custom Truck One Source by 5.2% during the 3rd quarter. R.P. Boggs & Co. now owns 994,203 shares of the company’s stock worth $6,164,000 after acquiring an additional 48,995 shares in the last quarter. Hedge funds and other 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).