Custom Truck One Source (NYSE:CTOS) Hits New 52-Week High – What’s Next?

Custom Truck One Source, Inc. (NYSE:CTOS) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $7.75 and last traded at $7.4740, with a volume of 838903 shares trading hands. The stock had previously closed at $7.56.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CTOS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Custom Truck One Source in a research note on Wednesday, January 21st. Zacks Research upgraded Custom Truck One Source from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on Custom Truck One Source from $6.00 to $6.50 and gave the stock an “underweight” rating in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Custom Truck One Source has an average rating of “Hold” and a consensus price target of $7.25.

Custom Truck One Source Price Performance

The stock has a market cap of $1.66 billion, a PE ratio of -61.00 and a beta of 1.17. The business has a fifty day simple moving average of $6.51 and a two-hundred day simple moving average of $6.22. The company has a current ratio of 1.27, a quick ratio of 0.22 and a debt-to-equity ratio of 2.08.

Institutional Trading of Custom Truck One Source

A number of hedge funds have recently modified their holdings of CTOS. EFG Asset Management North America Corp. bought a new position in Custom Truck One Source in the 3rd quarter worth about $1,762,000. Boston Partners raised its holdings in Custom Truck One Source by 71.5% in the second quarter. Boston Partners now owns 5,433,075 shares of the company’s stock worth $26,849,000 after buying an additional 2,264,366 shares during the last quarter. Geode Capital Management LLC raised its holdings in Custom Truck One Source by 12.7% in the second quarter. Geode Capital Management LLC now owns 1,346,479 shares of the company’s stock worth $6,653,000 after buying an additional 152,173 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Custom Truck One Source in the second quarter worth approximately $221,000. Finally, First Eagle Investment Management LLC grew its holdings in shares of Custom Truck One Source by 283.7% during the second quarter. First Eagle Investment Management LLC now owns 558,353 shares of the company’s stock valued at $2,758,000 after buying an additional 412,830 shares during the last quarter. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

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.