Rush Enterprises (NASDAQ:RUSHA) Stock Rating Lowered by Zacks Research

Rush Enterprises (NASDAQ:RUSHA) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks reports.

Several other equities analysts also recently issued reports on RUSHA. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Stephens raised their price target on shares of Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a research note 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 report on Tuesday, August 25th. Finally, Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.00.

Rush Enterprises Trading Up 1.6%

Shares of Rush Enterprises stock opened at $50.11 on Wednesday. The company has a market cap of $5.85 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88. Rush Enterprises has a fifty-two week low of $30.45 and a fifty-two week high of $55.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The firm has a 50-day simple moving average of $40.56 and a two-hundred day simple moving average of $34.27.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. As a group, equities analysts predict that Rush Enterprises will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael McRoberts sold 14,625 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $36.20, for a total value of $529,360.00. Following the completion of the sale, the director owned 36,514 shares of the company’s stock, valued at $1,321,644.52. This represents a 28.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Rush sold 161,041 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $36.02, for a total transaction of $5,801,054.69. Following the sale, the chief executive officer owned 391,846 shares of the company’s stock, valued at $14,115,163.69. This represents a 29.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 252,561 shares of company stock valued at $9,092,298 in the last ninety days. 12.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUSHA. Root Financial Partners LLC lifted its stake in shares of Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Rush Enterprises during the 3rd quarter worth about $34,000. Allworth Financial LP raised its holdings in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Rush Enterprises by 427.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock valued at $40,000 after buying an additional 633 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.