Rush Enterprises Inc. (RUSHA) Coverage Initiated at Stifel Nicolaus
Equities researchers at Stifel Nicolaus initiated coverage on shares of Rush Enterprises Inc. (NASDAQ:RUSHA) in a research note issued to investors on Monday. The firm set a “hold” rating and a $22.00 price target on the stock. Stifel Nicolaus’ price target suggests a potential downside of 10.39% from the stock’s current price.
RUSHA has been the subject of several other reports. Zacks Investment Research lowered Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 5th. BMO Capital Markets lifted their target price on Rush Enterprises from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. Finally, Stephens lowered Rush Enterprises from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 15th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $20.25.
Rush Enterprises (NASDAQ:RUSHA) traded up 1.53% during midday trading on Monday, hitting $24.55. 128,274 shares of the stock traded hands. Rush Enterprises has a 52 week low of $14.19 and a 52 week high of $27.45. The stock’s 50-day moving average price is $23.81 and its 200 day moving average price is $21.55. The company has a market capitalization of $973.68 million, a price-to-earnings ratio of 23.58 and a beta of 1.53.
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Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The company earned $1.03 billion during the quarter, compared to the consensus estimate of $1.10 billion. Rush Enterprises had a return on equity of 6.16% and a net margin of 0.94%. On average, equities research analysts predict that Rush Enterprises will post $1.05 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Kerrisdale Advisers LLC bought a new stake in shares of Rush Enterprises during the fourth quarter valued at about $4,793,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Rush Enterprises by 13.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 174,007 shares of the company’s stock valued at $3,810,000 after buying an additional 20,683 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Rush Enterprises by 70.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,629,607 shares of the company’s stock valued at $35,672,000 after buying an additional 673,598 shares during the last quarter. Magnolia Group LLC bought a new stake in shares of Rush Enterprises during the fourth quarter valued at about $10,975,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Rush Enterprises by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,573,485 shares of the company’s stock valued at $56,334,000 after buying an additional 8,000 shares during the last quarter. 78.52% of the stock is owned by institutional investors and hedge funds.
About Rush Enterprises
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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