Custom Truck One Source (NYSE:CTOS) Price Target Raised to $6.00 at Oppenheimer

Custom Truck One Source (NYSE:CTOS - Get Free Report) had its price objective increased by research analysts at Oppenheimer from $5.00 to $6.00 in a report released on Thursday, Marketbeat reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 26.72% from the stock's previous close.

Custom Truck One Source Stock Down 3.8 %

Shares of Custom Truck One Source stock traded down $0.19 during trading on Thursday, reaching $4.74. The company's stock had a trading volume of 967,420 shares, compared to its average volume of 810,314. The company has a 50-day simple moving average of $4.85 and a two-hundred day simple moving average of $4.51. Custom Truck One Source has a 1-year low of $3.03 and a 1-year high of $6.27. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -29.59 and a beta of 0.67. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87.

Insider Activity

In related news, major shareholder Pe One Source Holdings, Llc acquired 8,143,635 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost 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 of the company's stock, valued at $626,974,540. This represents a 5.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company's stock.

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Hedge Funds Weigh In On Custom Truck One Source

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of Custom Truck One Source in the fourth quarter worth about $29,000. R Squared Ltd acquired a new position in Custom Truck One Source in the 4th quarter worth approximately $39,000. KLP Kapitalforvaltning AS purchased a new position in Custom Truck One Source during the 4th quarter worth approximately $56,000. Two Sigma Investments LP acquired a new stake in Custom Truck One Source during the 4th quarter valued at approximately $63,000. Finally, Platform Technology Partners purchased a new stake in shares of Custom Truck One Source in the 4th quarter valued at $66,000. Hedge funds and other 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).