Rush Enterprises (NASDAQ:RUSHA) Stock Rating Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Rush Enterprises (NASDAQ:RUSHA – Free Report) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other research analysts have also commented on the stock. UBS Group reiterated a “neutral” rating and set a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a research note on Tuesday, August 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 21st. Stephens decreased their price target on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $50.26.

View Our Latest Research Report on Rush Enterprises

Rush Enterprises Stock Performance

Shares of RUSHA opened at $44.20 on Friday. The firm has a market capitalization of $5.16 billion, a PE ratio of 19.13, a P/E/G ratio of 1.58 and a beta of 0.89. The company has a quick ratio of 0.37, a current ratio of 1.44 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $46.78 and a 200 day moving average price of $36.70. Rush Enterprises has a 52-week low of $30.94 and a 52-week high of $55.74.

Rush Enterprises (NASDAQ:RUSHA – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.05 billion. Rush Enterprises had a net margin of 3.70% and a return on equity of 11.91%. On average, sell-side analysts anticipate that Rush Enterprises will post 2.43 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 11th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. Rush Enterprises’s dividend payout ratio is presently 24.24%.

Hedge Funds Weigh In On Rush Enterprises

Several large investors have recently made changes to their positions in RUSHA. Jennison Associates LLC raised its holdings in Rush Enterprises by 166.4% during the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after buying an additional 700,511 shares during the period. Russell Investments Group Ltd. lifted its stake in Rush Enterprises by 271.5% during the third quarter. Russell Investments Group Ltd. now owns 487,839 shares of the company’s stock valued at $22,348,000 after buying an additional 356,519 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Rush Enterprises by 83.9% in the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock worth $47,920,000 after buying an additional 330,553 shares during the period. Private Management Group Inc. acquired a new position in shares of Rush Enterprises in the third quarter worth about $13,968,000. Finally, EULAV Asset Management boosted its holdings in shares of Rush Enterprises by 59.7% in the third quarter. EULAV Asset Management now owns 608,071 shares of the company’s stock worth $27,856,000 after buying an additional 227,352 shares during the period. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

(Get Free Report)

Rush Enterprises, Inc operates Rush Truck Centers, a network of commercial vehicle dealerships serving customers in the United States and Canada. The company sells new and used heavy-, medium- and light-duty trucks, representing manufacturers such as Peterbilt and other commercial vehicle brands.

Its services include truck parts and repairs, collision and body work, leasing and rentals, and related financing and insurance products. Rush also provides aftermarket support designed to help commercial fleets and individual truck operators maintain and manage their vehicles.

Founded in 1965 as a truck dealership in Houston, Texas, Rush Enterprises has grown into a broad commercial vehicle distribution and service business.

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