Custom Truck One Source, Inc. (NYSE:CTOS) Sees Large Decline in Short Interest

Custom Truck One Source, Inc. (NYSE:CTOS) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,820,000 shares, a drop of 16.9% from the August 15th total of 2,190,000 shares. Based on an average daily trading volume, of 308,300 shares, the days-to-cover ratio is presently 5.9 days. Currently, 3.0% of the company’s shares are sold short.

Insider Activity

In other news, Director Ecp Controlco, Llc sold 41,140 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $6.51, for a total value of $267,821.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.30% of the company’s stock.

Institutional Trading of Custom Truck One Source

Several large investors have recently added to or reduced their stakes in CTOS. Advisor Group Holdings Inc. grew its position in shares of Custom Truck One Source by 214.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,666 shares of the company’s stock valued at $31,000 after acquiring an additional 2,499 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of 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 valued at $44,000 after buying an additional 3,877 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Custom Truck One Source in the fourth quarter valued at about $64,000. Mercer Global Advisors Inc. ADV purchased a new position in Custom Truck One Source during the first quarter worth about $96,000. Finally, Jane Street Group LLC acquired a new position in Custom Truck One Source in the 1st quarter valued at about $99,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Custom Truck One Source Trading Down 1.9 %

NYSE CTOS traded down $0.12 during trading hours on Tuesday, hitting $6.30. 222,562 shares of the company were exchanged, compared to its average volume of 288,454. Custom Truck One Source has a 52 week low of $5.53 and a 52 week high of $7.64. The company has a quick ratio of 0.36, a current ratio of 1.41 and a debt-to-equity ratio of 1.55. The stock has a 50-day moving average price of $6.67 and a 200 day moving average price of $6.65. The stock has a market cap of $1.55 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 0.78 and a beta of 0.59.

Custom Truck One Source (NYSE:CTOS) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. Custom Truck One Source had a return on equity of 6.64% and a net margin of 3.08%. The firm had revenue of $456.80 million during the quarter, compared to the consensus estimate of $387.92 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. Analysts forecast that Custom Truck One Source will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CTOS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Oppenheimer reissued an “outperform” rating and set a $9.00 price objective on shares of Custom Truck One Source in a report on Wednesday, August 9th. Finally, Citigroup raised their target price on shares of Custom Truck One Source from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.58.

About Custom Truck One Source

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.