Custom Truck One Source (NYSE:CTOS) Trading 5.2% Higher Following Analyst Upgrade

Custom Truck One Source, Inc. (NYSE:CTOS)’s stock price shot up 5.2% during mid-day trading on Thursday after Oppenheimer raised their price target on the stock from $5.00 to $6.00. Oppenheimer currently has an outperform rating on the stock. Custom Truck One Source traded as high as $4.97 and last traded at $5.08. 166,219 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 762,715 shares. The stock had previously closed at $4.83.

Insider Activity at Custom Truck One Source

In related news, major shareholder Pe One Source Holdings, Llc bought 8,143,635 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $4.00 per share, with a total value of $32,574,540.00. Following the purchase, the insider now directly owns 156,743,635 shares of the company’s stock, valued at $626,974,540. The trade was a 5.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Custom Truck One Source

Hedge funds have recently modified their holdings of the company. Boston Partners acquired a new position in Custom Truck One Source in the 4th quarter valued at about $18,268,000. T. Rowe Price Investment Management Inc. lifted its holdings in Custom Truck One Source by 105.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,407,782 shares of the company’s stock valued at $35,632,000 after acquiring an additional 3,796,138 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Custom Truck One Source by 216,379.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,511,025 shares of the company’s stock valued at $7,268,000 after acquiring an additional 1,510,327 shares during the last quarter. Black Diamond Financial LLC grew its position in Custom Truck One Source by 906.8% in the third quarter. Black Diamond Financial LLC now owns 1,427,000 shares of the company’s stock worth $4,923,000 after acquiring an additional 1,285,265 shares during the period. Finally, Portolan Capital Management LLC increased its stake in Custom Truck One Source by 152.8% during the fourth quarter. Portolan Capital Management LLC now owns 1,451,573 shares of the company’s stock worth $6,982,000 after acquiring an additional 877,273 shares during the last quarter. Hedge funds and other institutional investors own 90.07% of the company’s stock.

Custom Truck One Source Price Performance

The stock has a 50-day simple moving average of $4.84 and a 200 day simple moving average of $4.50. The company has a market cap of $1.16 billion, a PE ratio of -31.02 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.

About Custom Truck One Source

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).