Rush Enterprises (RUSHA) Rating Increased to Buy at ValuEngine
ValuEngine upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a buy rating in a research note published on Tuesday.
Several other equities analysts have also issued reports on the stock. BidaskClub lowered shares of Rush Enterprises from a buy rating to a hold rating in a report on Saturday, December 9th. Zacks Investment Research upgraded shares of Rush Enterprises from a hold rating to a strong-buy rating and set a $53.00 target price for the company in a report on Wednesday, October 18th. Buckingham Research started coverage on shares of Rush Enterprises in a report on Tuesday, September 5th. They set a neutral rating and a $40.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Rush Enterprises from $41.00 to $45.00 and gave the company a hold rating in a report on Monday, October 30th. Finally, BMO Capital Markets reiterated a market perform rating and set a $50.00 target price (up from $42.00) on shares of Rush Enterprises in a report on Monday, October 30th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $46.00.
Shares of Rush Enterprises (RUSHA) opened at $49.83 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 1.16 and a debt-to-equity ratio of 0.55. Rush Enterprises has a 1-year low of $30.36 and a 1-year high of $54.11. The company has a market cap of $1,980.00, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.32 and a beta of 1.17.
Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. equities analysts anticipate that Rush Enterprises will post 2.17 EPS for the current fiscal year.
Rush Enterprises declared that its board has initiated a stock buyback plan on Thursday, November 30th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In related news, EVP Derrek Weaver sold 26,732 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $52.13, for a total value of $1,393,539.16. Following the completion of the transaction, the executive vice president now directly owns 14,733 shares in the company, valued at approximately $768,031.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James E. Thor sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $48.70, for a total transaction of $1,178,540.00. Following the completion of the transaction, the senior vice president now owns 39,032 shares of the company’s stock, valued at $1,900,858.40. The disclosure for this sale can be found here. Insiders have sold 73,982 shares of company stock valued at $3,747,332 over the last quarter. Company insiders own 11.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its position in Rush Enterprises by 8.3% in 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 during the period. Crossmark Global Holdings Inc. bought a new stake in Rush Enterprises in the 3rd quarter worth approximately $1,872,000. Westfield Capital Management Co. LP grew its position in Rush Enterprises by 18.3% in the 2nd quarter. Westfield Capital Management Co. LP now owns 722,639 shares of the company’s stock worth $26,868,000 after purchasing an additional 111,813 shares during the period. Schwab Charles Investment Management Inc. grew its position in Rush Enterprises by 14.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 298,448 shares of the company’s stock worth $13,816,000 after purchasing an additional 36,914 shares during the period. Finally, Vanguard Group Inc. grew its position in Rush Enterprises by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock worth $109,302,000 after purchasing an additional 230,463 shares during the period. Institutional investors own 76.27% of the company’s stock.
About Rush Enterprises
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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