Convergence Investment Partners LLC Has $1.29 Million Position in Rush Enterprises, Inc. (RUSHA)
Convergence Investment Partners LLC boosted its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,761 shares of the company’s stock after buying an additional 1,427 shares during the period. Convergence Investment Partners LLC’s holdings in Rush Enterprises were worth $1,292,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC purchased a new position in Rush Enterprises during the second quarter worth $5,470,000. Granite Investment Partners LLC boosted its position in Rush Enterprises by 9.4% in the second quarter. Granite Investment Partners LLC now owns 370,543 shares of the company’s stock worth $13,777,000 after buying an additional 31,728 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Rush Enterprises by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 261,534 shares of the company’s stock worth $9,724,000 after buying an additional 3,496 shares during the period. Cigna Investments Inc. New purchased a new position in Rush Enterprises during the second quarter worth $297,000. Finally, TD Asset Management Inc. boosted its position in Rush Enterprises by 6.7% in the second quarter. TD Asset Management Inc. now owns 24,000 shares of the company’s stock worth $892,000 after buying an additional 1,500 shares during the period. Institutional investors own 76.37% of the company’s stock.
Shares of Rush Enterprises, Inc. (NASDAQ RUSHA) opened at 40.40 on Wednesday. Rush Enterprises, Inc. has a one year low of $21.99 and a one year high of $43.55. The company has a market capitalization of $1.59 billion, a P/E ratio of 25.51 and a beta of 1.19. The firm has a 50-day moving average of $38.95 and a 200-day moving average of $35.96.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.15. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.07 billion. Rush Enterprises had a net margin of 1.46% and a return on equity of 7.31%. Analysts forecast that Rush Enterprises, Inc. will post $1.80 earnings per share for the current year.
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A number of research analysts recently weighed in on the stock. BidaskClub cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday. 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 upgraded shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a report on Saturday, July 29th. Stifel Nicolaus reiterated a “hold” rating and issued a $38.00 price target on shares of Rush Enterprises in a report on Friday, July 28th. Finally, TheStreet upgraded 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 assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average 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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