Rush Enterprises (NASDAQ:RUSHA) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other equities research analysts have also recently weighed in on RUSHA. Seaport Global Securities restated a “buy” rating and issued a $62.00 price target on shares of Rush Enterprises in a research note on Wednesday, January 17th. BMO Capital Markets restated a “market perform” rating and issued a $50.00 price target (up previously from $42.00) on shares of Rush Enterprises in a research note on Monday, October 30th. They noted that the move was a valuation call. Stifel Nicolaus increased their price target on Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research note on Wednesday, October 18th. Finally, BidaskClub cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.20.

Shares of Rush Enterprises (NASDAQ RUSHA) opened at $51.36 on Friday. Rush Enterprises has a 12 month low of $30.74 and a 12 month high of $55.40. The company has a quick ratio of 0.29, a current ratio of 1.16 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $2,045.87, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.35 and a beta of 1.09.

Rush Enterprises declared that its Board of Directors has approved a share repurchase plan on Thursday, November 30th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other Rush Enterprises news, SVP James E. Thor sold 24,200 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $48.70, for a total value of $1,178,540.00. Following the transaction, the senior vice president now directly owns 39,032 shares of the company’s stock, valued at approximately $1,900,858.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Scott T. Anderson sold 12,144 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total value of $616,429.44. Following the completion of the transaction, the senior vice president now directly owns 3,600 shares in the company, valued at $182,736. The disclosure for this sale can be found here. Corporate insiders own 11.19% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can grew its holdings in Rush Enterprises by 70.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,362 shares of the company’s stock valued at $157,000 after buying an additional 1,393 shares in the last quarter. Sei Investments Co. acquired a new position in Rush Enterprises in the 3rd quarter valued at $182,000. Ameritas Investment Partners Inc. grew its holdings in shares of 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 purchasing an additional 316 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Rush Enterprises during the 3rd quarter worth $204,000. Finally, Wrapmanager Inc. acquired a new stake in shares of Rush Enterprises during the 3rd quarter worth $216,000. 77.85% of the stock is currently owned by hedge funds and other institutional investors.

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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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