Rush Enterprises, Inc. (NASDAQ:RUSHA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, October 18th. The firm presently has a $53.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 5.05% from the stock’s current price.
According to Zacks, “Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Their current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services. “
Several other equities research analysts also recently weighed in on RUSHA. ValuEngine downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Buckingham Research began coverage on Rush Enterprises in a report on Tuesday, September 5th. They issued a “neutral” rating and a $40.00 price objective for the company. BidaskClub downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. BMO Capital Markets increased their price target on Rush Enterprises from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $38.00 price target on shares of Rush Enterprises in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.00.
Rush Enterprises (NASDAQ:RUSHA) traded down $0.15 during midday trading on Wednesday, reaching $50.45. 141,003 shares of the company’s stock were exchanged, compared to its average volume of 213,431. Rush Enterprises has a 52 week low of $24.66 and a 52 week high of $54.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.28. The firm has a market capitalization of $2,013.32, a PE ratio of 26.22, a P/E/G ratio of 1.62 and a beta of 1.20.
Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.95%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. equities research analysts anticipate that Rush Enterprises will post 2.08 EPS for the current fiscal year.
In other Rush Enterprises news, EVP Derrek Weaver sold 26,732 shares of Rush Enterprises stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the transaction, the executive vice president now owns 14,733 shares of the company’s stock, valued at approximately $768,031.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William M. Rusty Rush sold 10,906 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $51.24, for a total transaction of $558,823.44. Following the sale, the chief executive officer now owns 96,155 shares of the company’s stock, valued at approximately $4,926,982.20. The disclosure for this sale can be found here. Corporate insiders own 11.19% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its position in shares of Rush Enterprises by 153.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock valued at $125,000 after purchasing an additional 2,296 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Rush Enterprises during the 3rd quarter valued at $182,000. Wrapmanager Inc. purchased a new position in shares of Rush Enterprises during the 3rd quarter valued at $216,000. BNP Paribas Arbitrage SA grew its position in shares of Rush Enterprises by 226.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock valued at $229,000 after purchasing an additional 4,279 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new position in shares of Rush Enterprises during the 3rd quarter valued at $237,000. Institutional investors and hedge funds own 75.52% of the company’s stock.
About Rush Enterprises
Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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