Custom Truck One Source (NYSE:CTOS) Shares Down 7.5% – Here’s Why

Custom Truck One Source, Inc. (NYSE:CTOS) was down 7.5% during mid-day trading on Monday . The stock traded as low as $3.51 and last traded at $3.51. 112,447 shares were traded during trading, a decline of 84% from the average daily volume of 689,975 shares. The stock had previously closed at $3.80.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTOS shares. Stifel Nicolaus decreased their target price 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. Oppenheimer lifted their price objective on shares of Custom Truck One Source from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th.

Custom Truck One Source Stock Performance

The firm’s fifty day moving average is $4.40 and its 200 day moving average is $4.60. The firm has a market capitalization of $846.19 million, a price-to-earnings ratio of -23.44 and a beta of 0.83. 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 purchased 8,143,635 shares of Custom Truck One Source stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $32,574,540.00. Following the acquisition, the insider now directly owns 156,743,635 shares in the company, valued at $626,974,540. This represents a 5.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of Custom Truck One Source by 939.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 492,411 shares of the company’s stock worth $1,699,000 after purchasing an additional 445,038 shares during the last quarter. Canvas Wealth Advisors LLC lifted its position in shares of Custom Truck One Source by 8.0% in the fourth quarter. Canvas Wealth Advisors LLC now owns 4,108,354 shares of the company’s stock worth $19,761,000 after buying an additional 303,744 shares during the last quarter. Boston Partners bought a new stake in shares of Custom Truck One Source during the 4th quarter worth about $18,268,000. Barclays PLC increased its holdings in shares of Custom Truck One Source by 349.6% during the 3rd quarter. Barclays PLC now owns 84,526 shares of the company’s stock valued at $291,000 after acquiring an additional 65,725 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Custom Truck One Source by 15.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,626 shares of the company’s stock valued at $378,000 after acquiring an additional 14,906 shares in the last quarter. 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).