Rush Enterprises (NASDAQ:RUSHA)‘s stock had its “buy” rating reiterated by stock analysts at Seaport Global Securities in a report issued on Wednesday. They presently have a $62.00 price target on the stock. Seaport Global Securities’ price objective would indicate a potential upside of 18.48% from the stock’s current price. Seaport Global Securities also issued estimates for Rush Enterprises’ Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $2.15 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.10 EPS.
Other equities research analysts have also issued reports about the company. ValuEngine lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Zacks Investment Research lowered Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 27th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $50.00 price objective (up from $42.00) on shares of Rush Enterprises in a research note on Monday, October 30th. They noted that the move was a valuation call. Finally, Stifel Nicolaus raised their price objective on Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, October 30th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $50.00.
Shares of Rush Enterprises (RUSHA) traded down $0.43 during trading on Wednesday, reaching $52.33. The company had a trading volume of 166,600 shares, compared to its average volume of 227,108. Rush Enterprises has a 52 week low of $30.74 and a 52 week high of $54.37. The company has a market capitalization of $2,100.00, a price-to-earnings ratio of 27.11, a PEG ratio of 1.40 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.29 and a current ratio of 1.16.
Rush Enterprises announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 30th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, EVP Derrek Weaver sold 26,732 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $52.13, for a total value of $1,393,539.16. Following the sale, the executive vice president now directly owns 14,733 shares in the company, valued at $768,031.29. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William M. Rusty Rush sold 10,906 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $51.24, for a total value of $558,823.44. Following the completion of the sale, the chief executive officer now owns 96,155 shares in the company, valued at $4,926,982.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,982 shares of company stock worth $3,747,332. Company insiders own 11.19% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUSHA. Schwab Charles Investment Management Inc. increased its holdings in Rush Enterprises by 1.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 261,534 shares of the company’s stock worth $9,724,000 after purchasing an additional 3,496 shares during the period. Legal & General Group Plc increased its holdings in Rush Enterprises by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 42,999 shares of the company’s stock worth $1,597,000 after purchasing an additional 199 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Rush Enterprises by 226.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock worth $229,000 after purchasing an additional 4,279 shares during the period. Prudential Financial Inc. increased its holdings in Rush Enterprises by 27.9% during the 2nd quarter. Prudential Financial Inc. now owns 84,193 shares of the company’s stock worth $3,130,000 after purchasing an additional 18,350 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Rush Enterprises during the 2nd quarter worth $296,000. Institutional investors own 76.27% 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.
Receive News & Ratings for Rush Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rush Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.