Custom Truck One Source (NYSE:CTOS) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Custom Truck One Source (NYSE:CTOS) issued its quarterly earnings results on Wednesday. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04), Briefing.com reports. The business had revenue of $447.22 million for the quarter, compared to the consensus estimate of $448.46 million. Custom Truck One Source had a negative return on equity of 4.51% and a negative net margin of 2.22%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. Custom Truck One Source updated its FY 2024 guidance to EPS.

Custom Truck One Source Price Performance

Shares of Custom Truck One Source stock traded up $0.06 during trading on Friday, hitting $4.15. 105,285 shares of the company’s stock traded hands, compared to its average volume of 598,898. The business has a 50-day simple moving average of $3.61 and a 200-day simple moving average of $4.26. Custom Truck One Source has a 1 year low of $3.03 and a 1 year high of $7.00. The company has a current ratio of 1.30, a quick ratio of 0.20 and a debt-to-equity ratio of 1.78.

Insider Activity

In related news, major shareholder Ecp Controlco, Llc sold 2,354,109 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was 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 owns 23,384,879 shares in the company, valued at approximately $79,976,286.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $3.42, for a total value 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 $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 at this link. Also, Director Energy Capital Partners Manage sold 18,640 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $4.17, for a total value of $77,728.80. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CTOS shares. JPMorgan Chase & Co. lowered their price objective on shares of 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. Oppenheimer reduced their target price on Custom Truck One Source from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Two 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 presently has an average rating of “Moderate Buy” and a consensus 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).