Custom Truck One Source (NYSE:CTOS) Issues Quarterly Earnings Results

Custom Truck One Source (NYSE:CTOS) posted its quarterly earnings results on Wednesday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04), Briefing.com reports. Custom Truck One Source had a negative return on equity of 1.51% and a negative net margin of 0.75%. The firm had revenue of $447.22 million for the quarter, compared to analyst estimates of $448.46 million. During the same quarter last year, the firm earned $0.04 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Custom Truck One Source updated its FY 2024 guidance to EPS.

Custom Truck One Source Price Performance

Shares of NYSE:CTOS traded up $0.36 on Wednesday, reaching $3.99. 1,304,009 shares of the company were exchanged, compared to its average volume of 598,497. The company has a current ratio of 1.30, a quick ratio of 0.20 and a debt-to-equity ratio of 1.78. Custom Truck One Source has a 1-year low of $3.03 and a 1-year high of $7.00. The firm has a market cap of $941.30 million, a price-to-earnings ratio of -79.70 and a beta of 0.62. The company has a 50-day moving average of $3.62 and a 200-day moving average of $4.26.

Insider Transactions at Custom Truck One Source

In other news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the transaction, the insider now directly owns 23,384,879 shares of the company’s stock, valued at $79,976,286.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Custom Truck One Source news, insider Thomas R. Rich acquired 26,200 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $3.84 per share, with a total value of $100,608.00. Following the purchase, the insider now owns 224,778 shares in the company, valued at approximately $863,147.52. The trade was a 0.00 % 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. Also, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $3.42, for a total transaction of $8,051,052.78. Following the completion of the sale, the insider now directly owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

CTOS has been the subject of several recent analyst reports. Oppenheimer reduced their price objective on shares of Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Custom Truck One Source has an average rating of “Moderate Buy” and an average target price of $5.88.

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).