Rush Enterprises Inc. (RUSHA) Downgraded by Zacks Investment Research
Rush Enterprises Inc. (NASDAQ:RUSHA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Their current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services. “
Other analysts have also issued research reports about the company. BMO Capital Markets restated an “outperform” rating and set a $25.00 target price on shares of Rush Enterprises in a research report on Friday, September 16th. Stephens cut Rush Enterprises from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.67.
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Shares of Rush Enterprises (NASDAQ:RUSHA) traded down 2.70% during midday trading on Wednesday, hitting $24.18. 161,435 shares of the stock were exchanged. The firm has a market cap of $959.00 million, a PE ratio of 23.23 and a beta of 1.53. The firm has a 50-day moving average price of $23.77 and a 200 day moving average price of $21.45. Rush Enterprises has a 12-month low of $14.19 and a 12-month high of $27.45.
Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, July 26th. The company reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. Rush Enterprises had a return on equity of 6.16% and a net margin of 0.94%. The business earned $1.03 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Analysts predict that Rush Enterprises will post $1.05 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Menta Capital LLC raised its position in shares of Rush Enterprises by 0.9% in the second quarter. Menta Capital LLC now owns 27,420 shares of the company’s stock valued at $591,000 after buying an additional 234 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Rush Enterprises by 2.7% in the second quarter. Gamco Investors INC. ET AL now owns 18,800 shares of the company’s stock valued at $405,000 after buying an additional 500 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Rush Enterprises by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 230,002 shares of the company’s stock valued at $4,957,000 after buying an additional 665 shares during the period. Swiss National Bank raised its position in shares of Rush Enterprises by 2.1% in the second quarter. Swiss National Bank now owns 49,300 shares of the company’s stock valued at $1,062,000 after buying an additional 1,000 shares during the period. Finally, Zebra Capital Management LLC raised its position in shares of Rush Enterprises by 6.4% in the first quarter. Zebra Capital Management LLC now owns 39,834 shares of the company’s stock valued at $727,000 after buying an additional 2,381 shares during the period. 78.52% of the stock is currently owned by institutional investors and hedge funds.
Rush Enterprises Company Profile
Rush Enterprises, Inc is a 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. The Company, through its Rush Truck Centers, 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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