Custom Truck One Source (NYSE:CTOS) Shares Gap Up After Insider Buying Activity

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $5.19, but opened at $5.36. Custom Truck One Source shares last traded at $5.34, with a volume of 56,480 shares.

Specifically, Director Ecp Controlco, Llc sold 41,140 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $6.51, for a total transaction of $267,821.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ecp Controlco, Llc sold 41,140 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $6.51, for a total transaction of $267,821.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marshall Heinberg bought 15,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $4.79 per share, for a total transaction of $71,850.00. Following the transaction, the director now owns 220,304 shares of the company’s stock, valued at $1,055,256.16. The disclosure for this purchase can be found here. 5.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CTOS. Oppenheimer cut their target price on shares of Custom Truck One Source from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their price target on Custom Truck One Source from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Citigroup decreased their price objective on Custom Truck One Source from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Custom Truck One Source from $7.50 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.17.

Custom Truck One Source Trading Up 3.5 %

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 18.54 and a beta of 0.64. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.28 and a current ratio of 1.35. The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $6.45.

Custom Truck One Source (NYSE:CTOS) last posted its earnings results on Tuesday, November 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Custom Truck One Source had a return on equity of 7.82% and a net margin of 3.58%. The business had revenue of $434.35 million for the quarter, compared to analysts’ expectations of $418.05 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. Custom Truck One Source’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, research analysts forecast that Custom Truck One Source, Inc. will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently bought and sold shares of CTOS. Advisor Group Holdings Inc. increased 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 buying an additional 2,499 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Custom Truck One Source in the 3rd quarter valued at $31,000. Lazard Asset Management LLC raised its position in Custom Truck One Source by 117.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,959 shares of the company’s stock valued at $30,000 after purchasing an additional 2,682 shares during the last quarter. Register Financial Advisors LLC raised its position in Custom Truck One Source by 66.7% in the 3rd quarter. Register Financial Advisors LLC now owns 5,000 shares of the company’s stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Custom Truck One Source by 107.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,480 shares of the company’s stock worth $44,000 after purchasing an additional 3,877 shares during the period. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in North America. The company operates through three segments: Equipment Rental Solutions, Truck and Equipment Sales, and Aftermarket Parts and Services.