Oppenheimer Issues Positive Forecast for Custom Truck One Source (NYSE:CTOS) Stock Price

Custom Truck One Source (NYSE:CTOS) had its price objective raised by research analysts at Oppenheimer from $5.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 13.53% from the company’s previous close.

Custom Truck One Source Price Performance

Custom Truck One Source stock traded up $0.46 during trading hours on Thursday, hitting $5.29. The stock had a trading volume of 411,083 shares, compared to its average volume of 767,779. Custom Truck One Source has a 1-year low of $3.03 and a 1-year high of $6.27. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -32.84 and a beta of 0.67. The stock’s fifty day moving average is $4.84 and its two-hundred day moving average is $4.50. 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 Buying and Selling at Custom Truck One Source

In related news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $4.00 per share, for a total transaction of $32,574,540.00. Following the acquisition, the insider now 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Custom Truck One Source

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Custom Truck One Source in the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in shares of Custom Truck One Source during the fourth quarter worth $39,000. Intech Investment Management LLC purchased a new stake in shares of Custom Truck One Source in the third quarter valued at $56,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Custom Truck One Source in the fourth quarter valued at $56,000. Finally, Two Sigma Investments LP acquired a new position in Custom Truck One Source in the fourth quarter valued at $63,000. 90.07% of the stock is owned by institutional investors and hedge funds.

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).