Rush Enterprises (NASDAQ:RUSHA) Upgraded by Zacks Research to Hold Rating

Rush Enterprises (NASDAQ:RUSHA) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on RUSHA. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a report on Thursday, June 18th. UBS Group upped their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Wolfe Research started coverage on Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target for the company. Finally, Stephens reiterated an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA opened at $72.99 on Monday. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $76.99. The company’s 50 day moving average price is $70.72 and its two-hundred day moving average price is $66.78. The firm has a market cap of $5.67 billion, a PE ratio of 22.05, a PEG ratio of 1.53 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Equities research analysts predict that Rush Enterprises will post 3.79 earnings per share for the current year.

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director directly owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.68% of the company’s stock.

Institutional Trading of Rush Enterprises

A number of institutional investors have recently bought and sold shares of the company. 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 period. Kestra Advisory Services LLC increased its holdings in Rush Enterprises by 1.1% in the fourth quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock worth $966,000 after purchasing an additional 200 shares in the last quarter. California State Teachers Retirement System lifted its stake in Rush Enterprises by 0.4% in the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after buying an additional 208 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Rush Enterprises by 44.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock worth $40,000 after buying an additional 230 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Rush Enterprises by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock worth $1,897,000 after buying an additional 251 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

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.