Custom Truck One Source (NYSE:CTOS) Stock Price Down 3.8% After Insider Selling

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price fell 3.8% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $4.07 and last traded at $4.09. 189,399 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 594,664 shares. The stock had previously closed at $4.25.

Specifically, Director Energy Capital Partners Manage sold 18,640 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $4.17, for a total value of $77,728.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

CTOS has been the topic of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of Custom Truck One Source from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Stifel Nicolaus started coverage on Custom Truck One Source in a report on Friday, June 14th. They issued a “hold” rating and a $5.50 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Oppenheimer reduced their price target on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Custom Truck One Source currently has an average rating of “Moderate Buy” and an average price target of $6.30.

Custom Truck One Source Stock Performance

The firm has a market cap of $985.71 million, a PE ratio of 41.00 and a beta of 0.70. The stock has a 50-day moving average price of $4.44 and a 200 day moving average price of $5.02. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.34 and a quick ratio of 0.22.

Custom Truck One Source (NYSE:CTOS) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.49%. The company had revenue of $423.00 million for the quarter, compared to analyst estimates of $456.23 million. During the same period in the prior year, the company earned $0.05 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. Research analysts forecast that Custom Truck One Source, Inc. will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On Custom Truck One Source

A number of large investors have recently modified their holdings of CTOS. Victory Capital Management Inc. purchased a new position in Custom Truck One Source in the second quarter valued at about $47,000. Koshinski Asset Management Inc. purchased a new position in Custom Truck One Source in the 1st quarter worth approximately $58,000. Cetera Advisors LLC acquired a new stake in Custom Truck One Source in the first quarter valued at approximately $68,000. MQS Management LLC purchased a new stake in shares of Custom Truck One Source during the first quarter valued at approximately $75,000. Finally, First Merchants Corp acquired a new position in shares of Custom Truck One Source during the second quarter worth $87,000. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

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).