Rush Enterprises (NASDAQ:RUSHA) Stock Rating Upgraded by Wall Street Zen

Rush Enterprises (NASDAQ:RUSHA) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

RUSHA has been the topic of a number of other reports. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Stephens upped their price objective on shares of Rush Enterprises from $60.00 to $63.33 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $58.67 target price on the stock. Finally, UBS Group boosted their target price on Rush Enterprises from $48.67 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $82.23 on Friday. The company’s 50 day moving average price is $52.25 and its 200-day moving average price is $48.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $83.61. The company has a market capitalization of $6.40 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87.

Shares of Rush Enterprises are set to split on the morning of Tuesday, September 1st. The 3-2 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. 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 forecast that Rush Enterprises will post 3.75 earnings per share for the current year.

Insider Activity at Rush Enterprises

In other news, CFO Steven L. Keller sold 31,017 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $53.82, for a total value of $1,669,334.94. Following the completion of the sale, the chief financial officer owned 126,561 shares of the company’s stock, valued at approximately $6,811,513.02. The trade was a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Mcroberts sold 9,750 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $54.29, for a total transaction of $529,360.00. Following the sale, the director directly owned 24,343 shares of the company’s stock, valued at $1,321,662.61. The trade was a 28.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 168,375 shares of company stock valued at $9,092,352. Company insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Several hedge funds have recently made changes to their positions in RUSHA. Globeflex Capital L P bought a new position in shares of Rush Enterprises during the second quarter valued at approximately $4,163,000. Great Lakes Advisors LLC purchased a new position in Rush Enterprises during the 2nd quarter valued at $3,618,000. Commerzbank Aktiengesellschaft FI bought a new position in Rush Enterprises in the 2nd quarter worth $2,678,000. Plato Investment Management Ltd purchased a new stake in shares of Rush Enterprises in the 2nd quarter worth about $996,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Rush Enterprises during the 2nd quarter valued at about $112,882,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

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.