Custom Truck One Source (NYSE:CTOS) Shares Up 5.5% – Should You Buy?

Custom Truck One Source, Inc. (NYSE:CTOS) shares rose 5.5% during trading on Thursday . The company traded as high as $3.56 and last traded at $3.58. Approximately 114,716 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 776,392 shares. The stock had previously closed at $3.39.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Oppenheimer upped their target price on Custom Truck One Source from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on shares of Custom Truck One Source from $5.50 to $5.00 and set a “hold” rating for the company in a report on Wednesday, April 9th.

Custom Truck One Source Stock Up 9.0 %

The stock has a market cap of $833.78 million, a P/E ratio of -23.09 and a beta of 0.83. The stock’s fifty day simple moving average is $4.46 and its 200-day simple moving average is $4.58. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.28 and a quick ratio of 0.19.

Insider Activity

In other news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $4.00 per share, with a total value of $32,574,540.00. Following the completion of the acquisition, the insider now directly owns 156,743,635 shares in the company, valued at approximately $626,974,540. This trade represents a 5.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Custom Truck One Source

Hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners acquired a new stake in Custom Truck One Source in the 4th quarter valued at about $18,268,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Custom Truck One Source by 105.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,407,782 shares of the company’s stock worth $35,632,000 after buying an additional 3,796,138 shares during the period. Russell Investments Group Ltd. increased its position in shares of Custom Truck One Source by 216,379.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,511,025 shares of the company’s stock worth $7,268,000 after acquiring an additional 1,510,327 shares in the last quarter. Portolan Capital Management LLC lifted its position in shares of Custom Truck One Source by 152.8% in the 4th quarter. Portolan Capital Management LLC now owns 1,451,573 shares of the company’s stock valued at $6,982,000 after acquiring an additional 877,273 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Custom Truck One Source by 111.6% during the 4th quarter. Bank of America Corp DE now owns 1,312,083 shares of the company’s stock worth $6,311,000 after purchasing an additional 691,863 shares in the last quarter. Institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Company Profile

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).