Robert W. Baird Downgrades Custom Truck One Source (NYSE:CTOS) to Neutral

Custom Truck One Source (NYSE:CTOS - Get Free Report) was downgraded by stock analysts at Robert W. Baird from an "outperform" rating to a "neutral" rating in a report released on Monday,Finviz reports. They currently have a $5.00 price target on the stock. Robert W. Baird's target price points to a potential upside of 15.21% from the company's previous close.

Several other research analysts also recently weighed in on CTOS. Oppenheimer lifted their target price 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. Stifel Nicolaus reduced their target price on 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.

Custom Truck One Source Stock Performance

CTOS opened at $4.34 on Monday. The business has a fifty day simple moving average of $4.29 and a 200-day simple moving average of $4.63. The firm has a market cap of $979.33 million, a PE ratio of -27.13 and a beta of 0.83. The company has a quick ratio of 0.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.87. Custom Truck One Source has a fifty-two week low of $3.03 and a fifty-two week high of $6.11.

Insiders Place Their Bets

In other news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of Custom Truck One Source stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $4.00 per share, for a total transaction of $32,574,540.00. Following the purchase, the insider now owns 156,743,635 shares of the company's stock, valued at approximately $626,974,540. This trade represents a 5.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Custom Truck One Source by 939.4% during the third 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 in the last quarter. Canvas Wealth Advisors LLC lifted its position in Custom Truck One Source by 8.0% during the 4th quarter. Canvas Wealth Advisors LLC now owns 4,108,354 shares of the company's stock valued at $19,761,000 after purchasing an additional 303,744 shares during the period. Boston Partners acquired a new stake in shares of Custom Truck One Source during the 4th quarter worth approximately $18,268,000. Barclays PLC raised its stake in shares of Custom Truck One Source by 349.6% during the third quarter. Barclays PLC now owns 84,526 shares of the company's stock worth $291,000 after buying an additional 65,725 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in Custom Truck One Source by 26.3% in the fourth quarter. Heartland Advisors Inc. now owns 1,200,000 shares of the company's stock valued at $5,772,000 after buying an additional 250,000 shares during the period. 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).

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