Zacks Investment Research upgraded shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) from a hold rating to a strong-buy rating in a research note released on Wednesday morning. The brokerage currently has $53.00 target price on the stock.

According to Zacks, “Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Their current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services. “

Several other analysts have also issued reports on RUSHA. ValuEngine lowered shares of Rush Enterprises from a buy rating to a hold rating in a research report on Monday, October 2nd. BidaskClub raised shares of Rush Enterprises from a hold rating to a buy rating in a research report on Wednesday, August 2nd. BMO Capital Markets boosted their price target on shares of Rush Enterprises from $30.00 to $42.00 and gave the company an outperform rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a hold rating and issued a $38.00 price target on shares of Rush Enterprises in a research report on Friday, July 28th. Finally, Buckingham Research began coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They issued a neutral rating and a $40.00 price target on the stock. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $43.00.

Rush Enterprises (NASDAQ RUSHA) opened at 48.61 on Wednesday. The firm has a 50-day moving average of $44.22 and a 200 day moving average of $39.14. The company has a market capitalization of $1.93 billion, a PE ratio of 30.69 and a beta of 1.18. Rush Enterprises has a 12-month low of $22.52 and a 12-month high of $48.82.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Wednesday, July 26th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.15. The firm had revenue of $1.20 billion for 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 7.31%. Analysts forecast that Rush Enterprises will post $1.81 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased its holdings in Rush Enterprises by 0.8% during the 2nd quarter. US Bancorp DE now owns 21,036 shares of the company’s stock worth $782,000 after acquiring an additional 164 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Rush Enterprises by 0.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 38,182 shares of the company’s stock worth $1,420,000 after acquiring an additional 164 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 acquiring an additional 199 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Rush Enterprises by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock worth $152,000 after acquiring an additional 316 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Rush Enterprises by 12.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $256,000 after acquiring an additional 780 shares during the period. 75.45% of the stock is currently owned by institutional investors and hedge funds.

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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