ClariVest Asset Management LLC Takes Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)
ClariVest Asset Management LLC purchased a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) during the second quarter, Holdings Channel reports. The institutional investor purchased 147,130 shares of the company’s stock, valued at approximately $5,470,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of Rush Enterprises by 3.6% in the first quarter. Swiss National Bank now owns 49,200 shares of the company’s stock valued at $1,628,000 after buying an additional 1,700 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Rush Enterprises by 33.6% in the first quarter. Suntrust Banks Inc. now owns 18,617 shares of the company’s stock valued at $615,000 after buying an additional 4,687 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Rush Enterprises by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 186,367 shares of the company’s stock valued at $6,163,000 after buying an additional 5,072 shares in the last quarter. US Bancorp DE increased its position in shares of Rush Enterprises by 5.3% in the first quarter. US Bancorp DE now owns 20,872 shares of the company’s stock valued at $690,000 after buying an additional 1,043 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new position in shares of Rush Enterprises during the first quarter valued at about $414,000. 76.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at 41.18 on Tuesday. The firm has a 50-day moving average of $38.84 and a 200 day moving average of $35.90. The firm has a market cap of $1.62 billion, a PE ratio of 26.00 and a beta of 1.19. Rush Enterprises, Inc. has a 52-week low of $21.99 and a 52-week high of $43.55.
Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Rush Enterprises had a net margin of 1.46% and a return on equity of 7.37%. On average, equities analysts predict that Rush Enterprises, Inc. will post $1.80 earnings per share for the current year.
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Several brokerages recently issued reports on RUSHA. BMO Capital Markets lifted their price target on shares of Rush Enterprises from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Saturday, July 29th. BidaskClub raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reissued a “hold” rating and set a $38.00 price target on shares of Rush Enterprises in a report on Friday, July 28th. Finally, TheStreet raised shares of Rush Enterprises from a “c+” rating to a “b-” rating in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $42.25.
Rush Enterprises Company Profile
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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