Custom Truck One Source (NYSE:CTOS) Stock Price Down 5.1% Following Insider Selling

Custom Truck One Source, Inc. (NYSE:CTOS) shares fell 5.1% during trading on Monday following insider selling activity. The stock traded as low as $3.51 and last traded at $3.51. 673,089 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 611,550 shares. The stock had previously closed at $3.70.

Specifically, 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 value of $8,051,052.78. Following the completion of the transaction, the insider now owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. The sale was disclosed in a document filed with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

CTOS has been the subject of several research analyst reports. Stifel Nicolaus started coverage on shares of Custom Truck One Source in a research note on Friday, June 14th. They issued a “hold” rating and a $5.50 price objective for the company. Oppenheimer decreased their target price on 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. Finally, JPMorgan Chase & Co. cut their price target on Custom Truck One Source from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Custom Truck One Source presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.30.

Custom Truck One Source Stock Performance

The stock has a market cap of $819.83 million, a PE ratio of 34.10 and a beta of 0.63. The stock has a fifty day moving average of $4.34 and a 200-day moving average of $4.82. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 1.78.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Custom Truck One Source had a negative net margin of 0.75% and a negative return on equity of 1.51%. The company had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $456.23 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, equities analysts forecast that Custom Truck One Source, Inc. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Custom Truck One Source

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Custom Truck One Source by 190.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,934,780 shares of the company’s stock valued at $21,466,000 after acquiring an additional 3,234,586 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Custom Truck One Source by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 3,191,740 shares of the company’s stock valued at $18,576,000 after purchasing an additional 80,740 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Custom Truck One Source by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,246,060 shares of the company’s stock worth $9,770,000 after purchasing an additional 410,895 shares during the period. Clearbridge Investments LLC raised its stake in shares of Custom Truck One Source by 2.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,917,468 shares of the company’s stock worth $11,160,000 after buying an additional 38,575 shares in the last quarter. Finally, Maven Securities LTD acquired a new stake in shares of Custom Truck One Source in the 2nd quarter valued at approximately $2,175,000. 90.07% of the stock is owned by institutional investors and hedge funds.

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).