JPMorgan Chase & Co. Trims Custom Truck One Source (NYSE:CTOS) Target Price to $6.00

Custom Truck One Source (NYSE:CTOS) had its price target lowered by JPMorgan Chase & Co. from $7.00 to $6.00 in a report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Robert W. Baird cut their price target on Custom Truck One Source from $8.00 to $7.00 and set an outperform rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Custom Truck One Source currently has an average rating of Moderate Buy and an average price target of $8.00.

Custom Truck One Source Price Performance

Shares of CTOS opened at $4.17 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.31 and a debt-to-equity ratio of 1.62. The company’s fifty day simple moving average is $5.59 and its 200 day simple moving average is $5.94. Custom Truck One Source has a 1-year low of $3.61 and a 1-year high of $7.53. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 0.79 and a beta of 0.69.

Custom Truck One Source (NYSE:CTOS) last issued its 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 net margin of 1.24% and a return on equity of 2.46%. The firm had revenue of $411.31 million during the quarter, compared to the consensus estimate of $455.98 million. During the same period in the previous year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research analysts forecast that Custom Truck One Source will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently modified their holdings of the business. Canvas Wealth Advisors LLC boosted its stake in Custom Truck One Source by 4.8% in the fourth quarter. Canvas Wealth Advisors LLC now owns 3,413,242 shares of the company’s stock valued at $21,299,000 after buying an additional 156,010 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $20,157,000 after purchasing an additional 52,437 shares during the last quarter. Register Financial Advisors LLC increased its position in Custom Truck One Source by 602.0% during the 4th quarter. Register Financial Advisors LLC now owns 35,100 shares of the company’s stock worth $217,000 after purchasing an additional 30,100 shares in the last quarter. SG Americas Securities LLC lifted its stake in Custom Truck One Source by 330.2% in the 4th quarter. SG Americas Securities LLC now owns 84,169 shares of the company’s stock valued at $520,000 after purchasing an additional 64,606 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Custom Truck One Source in the third quarter valued at approximately $31,000. 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).