Wall Street Zen Upgrades Rush Enterprises (NASDAQ:RUSHA) to Buy

by · The Cerbat Gem

Rush Enterprises (NASDAQ:RUSHA – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

RUSHA has been the subject of a number of other reports. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Stephens increased their price objective on Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a report on Thursday, July 30th. UBS Group reissued a “neutral” rating and set a $56.67 target price (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Finally, Zacks Research cut Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 2nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.00.

View Our Latest Analysis on RUSHA

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA opened at $47.18 on Friday. Rush Enterprises has a 52 week low of $30.45 and a 52 week high of $55.74. The company’s 50 day moving average is $46.94 and its two-hundred day moving average is $36.88. The company has a market cap of $5.51 billion, a PE ratio of 21.32, a P/E/G ratio of 1.69 and a beta of 0.92. 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 (NASDAQ:RUSHA – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities analysts predict that Rush Enterprises will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, CFO Steven L. Keller sold 46,525 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $35.88, for a total transaction of $1,669,317.00. Following the transaction, the chief financial officer directly owned 189,841 shares of the company’s stock, valued at approximately $6,811,495.08. This trade represents a 19.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William M. Rusty Rush sold 161,041 shares of Rush Enterprises stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.02, for a total transaction of $5,801,054.69. Following the completion of the transaction, the chief executive officer owned 391,846 shares in the company, valued at approximately $14,115,163.69. This represents a 29.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 252,561 shares of company stock worth $9,092,298 in the last 90 days. Company insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of Rush Enterprises by 54.7% during the third quarter. Versant Capital Management Inc now owns 2,062 shares of the company’s stock worth $94,000 after buying an additional 729 shares during the last quarter. State Street Corp increased its position in Rush Enterprises by 4.1% in the 2nd quarter. State Street Corp now owns 2,430,986 shares of the company’s stock valued at $177,426,000 after acquiring an additional 96,418 shares during the period. The Manufacturers Life Insurance Company increased its position in Rush Enterprises by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,334 shares of the company’s stock valued at $2,287,000 after acquiring an additional 3,005 shares during the period. Engineers Gate Manager LP raised its stake in Rush Enterprises by 113.5% during the 2nd quarter. Engineers Gate Manager LP now owns 20,200 shares of the company’s stock valued at $1,474,000 after acquiring an additional 10,739 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Rush Enterprises during the 2nd quarter valued at approximately $25,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

About Rush Enterprises

(Get Free Report)

Rush Enterprises, Inc is a commercial vehicle solutions provider that operates a network of truck dealerships under the Rush Truck Centers name. The company sells new and used commercial vehicles, including trucks and related equipment from manufacturers such as Peterbilt, International, Ford, Isuzu and Hino, serving customers in the trucking, construction, energy, public-sector and other industries.

In addition to vehicle sales, Rush Truck Centers provides aftermarket support through parts distribution, maintenance, repair and collision services.

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