Rush Enterprises (NASDAQ:RUSHA) Upgraded at Wall Street Zen

Rush Enterprises (NASDAQ:RUSHA) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on the company. UBS Group restated 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. Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 2nd. Stephens lowered their price target on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.26.

Rush Enterprises Trading Down 1.3%

Shares of NASDAQ RUSHA opened at $42.98 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.38 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $47.46 and a two-hundred day moving average of $36.25. Rush Enterprises has a 1-year low of $30.45 and a 1-year high of $55.74. The company has a market cap of $5.02 billion, a PE ratio of 18.61, a P/E/G ratio of 1.56 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.05 billion. Rush Enterprises had a return on equity of 11.91% and a net margin of 3.70%. As a group, equities analysts expect that Rush Enterprises will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Michael L. Goldstone sold 4,725 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $36.13, for a total value of $170,730.00. Following the completion of the transaction, the senior vice president directly owned 28,327 shares in the company, valued at approximately $1,023,548.93. The trade was a 14.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael McRoberts sold 14,625 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.20, for a total value of $529,360.00. Following the sale, the director owned 36,514 shares of the company’s stock, valued at $1,321,644.52. The trade was a 28.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 180,391 shares of company stock valued at $6,501,145 over the last 90 days. 12.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new stake in Rush Enterprises during the 4th quarter worth about $776,000. Granite Investment Partners LLC grew its position in Rush Enterprises by 124.1% in the 1st quarter. Granite Investment Partners LLC now owns 143,619 shares of the company’s stock valued at $9,495,000 after purchasing an additional 79,535 shares during the period. Janus Henderson Group PLC increased its position in shares of Rush Enterprises by 83.9% during the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock worth $47,920,000 after acquiring an additional 330,553 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Rush Enterprises in the first quarter worth approximately $3,655,000. Finally, California State Teachers Retirement System lifted its stake in Rush Enterprises by 27.3% during the 1st quarter. California State Teachers Retirement System now owns 72,875 shares of the company’s stock valued at $4,818,000 after acquiring an additional 15,643 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.