Rush Enterprises Downgraded by BofA Merrill Lynch to “Underperform” (RUSHA)
Rush Enterprises (NASDAQ:RUSHA) was downgraded by BofA Merrill Lynch from a “buy” rating to an “underperform” rating in a research note issued on Thursday, AnalystRatingsNetwork reports. They currently have a $34.00 price objective on the stock, up from their previous price objective of $33.00. BofA Merrill Lynch’s target price indicates a potential upside of 5.33% from the stock’s previous close.
A number of other firms have also recently commented on RUSHA. Analysts at Stephens downgraded shares of Rush Enterprises from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 23rd. Separately, analysts at RBC Capital raised their price target on shares of Rush Enterprises from $35.00 to $38.00 in a research note on Wednesday, April 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Bank of America downgraded shares of Rush Enterprises from a “buy” rating to an “underperform” rating in a research note on Tuesday, April 22nd. They now have a $34.00 price target on the stock, up previously from $33.00. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.89.
Shares of Rush Enterprises (NASDAQ:RUSHA) traded up 1.03% on Thursday, hitting $32.28. The stock had a trading volume of 136,598 shares. Rush Enterprises has a 52-week low of $22.37 and a 52-week high of $36.15. The stock has a 50-day moving average of $32.71 and a 200-day moving average of $29.6. The company has a market cap of $1.265 billion and a price-to-earnings ratio of 26.19.
Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Monday, April 21st. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.02. The company had revenue of $958.70 million for the quarter, compared to the consensus estimate of $938.30 million. Analysts expect that Rush Enterprises will post $1.69 EPS for the current fiscal year.
Rush Enterprises, Inc (NASDAQ:RUSHA) is an integrated retailer of commercial vehicles and related services.
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