Rush Enterprises (NASDAQ:RUSHA) Cut to Strong Sell at Zacks Research

Rush Enterprises (NASDAQ:RUSHA) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday, Zacks reports.

RUSHA has been the subject of several other research reports. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Stephens raised their target price on Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a research note on Thursday, July 30th. UBS Group reaffirmed a “neutral” rating and issued a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Finally, Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.00.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $50.11 on Wednesday. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 2.48 and a beta of 0.88. The firm’s 50-day moving average price is $40.56 and its two-hundred day moving average price is $34.27. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. Rush Enterprises has a 1-year low of $30.45 and a 1-year high of $55.74.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. On average, equities analysts predict that Rush Enterprises will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Michael Goldstone sold 5,400 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $36.02, for a total value of $194,520.00. Following the transaction, the senior vice president owned 28,327 shares of the company’s stock, valued at $1,020,401.49. This represents a 16.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael McRoberts sold 14,625 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.20, for a total value of $529,360.00. Following the completion of the transaction, the director owned 36,514 shares in the company, valued at $1,321,644.52. This represents a 28.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 252,561 shares of company stock worth $9,092,298. Company insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC grew its position in shares of Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. Kestra Advisory Services LLC raised its position in shares of Rush Enterprises by 1.1% in the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock valued at $966,000 after acquiring an additional 200 shares during the period. California State Teachers Retirement System raised its position in shares of Rush Enterprises by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after acquiring an additional 208 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Rush Enterprises by 44.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock valued at $40,000 after acquiring an additional 230 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Rush Enterprises by 0.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 87,139 shares of the company’s stock worth $4,489,000 after acquiring an additional 269 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.