Research Analysts Set Expectations for Custom Truck One Source, Inc.’s Q2 2023 Earnings (NYSE:CTOS)

Custom Truck One Source, Inc. (NYSE:CTOS – Get Rating) – Investment analysts at Oppenheimer boosted their Q2 2023 EPS estimates for shares of Custom Truck One Source in a research note issued on Tuesday, March 14th. Oppenheimer analyst S. Schneeberger now forecasts that the company will earn $0.03 per share for the quarter, up from their prior forecast of $0.01. Oppenheimer has a “Outperform” rating and a $9.00 price objective on the stock. The consensus estimate for Custom Truck One Source’s current full-year earnings is $0.24 per share. Oppenheimer also issued estimates for Custom Truck One Source’s FY2023 earnings at $0.29 EPS.

A number of other brokerages have also recently issued reports on CTOS. DA Davidson assumed coverage on shares of Custom Truck One Source in a research report on Wednesday, February 15th. They set a “buy” rating and a $12.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Custom Truck One Source in a research report on Tuesday, December 13th. They set a “neutral” rating and a $7.50 price target for the company. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Custom Truck One Source Price Performance

NYSE:CTOS opened at $6.54 on Friday. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 40.88 and a beta of 0.59. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.44 and a current ratio of 1.37. The company has a 50-day moving average of $7.04 and a 200-day moving average of $6.68. Custom Truck One Source has a 52 week low of $4.53 and a 52 week high of $9.40.

Hedge Funds Weigh In On Custom Truck One Source

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its position in Custom Truck One Source by 214.1% during the first quarter. Advisor Group Holdings Inc. now owns 3,666 shares of the company’s stock worth $31,000 after purchasing an additional 2,499 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Custom Truck One Source by 107.6% in the third quarter. Tower Research Capital LLC TRC now owns 7,480 shares of the company’s stock valued at $44,000 after buying an additional 3,877 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Custom Truck One Source in the fourth quarter valued at approximately $64,000. Creative Planning acquired a new position in shares of Custom Truck One Source in the third quarter valued at approximately $66,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Custom Truck One Source in the fourth quarter valued at approximately $96,000. 92.79% of the stock is currently owned by institutional investors and hedge funds.

About Custom Truck One Source

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Custom Truck One Source, Inc engages in the sale and rental of truck and heavy equipment. The firm offers aftermarket parts and service, equipment customization, remanufacturing, financing solutions, and asset disposal services. The company was founded in 1996 and is headquartered in Kansas City, MO.