Rush Enterprises (NASDAQ:RUSHA) Stock Rating Lowered by Wall Street Zen

Rush Enterprises (NASDAQ:RUSHA) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other analysts also recently issued reports about the company. Stephens reduced their price objective on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research note on Thursday, January 22nd. UBS Group initiated coverage on shares of Rush Enterprises in a research note on Wednesday. They set a “neutral” rating and a $70.00 price target on the stock. Finally, Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Rush Enterprises has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Rush Enterprises Trading Up 1.4%

Shares of RUSHA opened at $64.19 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.34. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $66.11. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 0.78 and a beta of 0.92. The firm has a 50 day simple moving average of $57.32 and a 200-day simple moving average of $54.81.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Wednesday, October 29th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Rush Enterprises had a return on equity of 12.52% and a net margin of 3.57%. Equities analysts forecast that Rush Enterprises will post 3.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Rush Enterprises

A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in Rush Enterprises by 0.4% during the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock worth $2,955,000 after purchasing an additional 208 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Rush Enterprises by 8.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock valued at $159,000 after buying an additional 219 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Rush Enterprises by 3.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,392 shares of the company’s stock valued at $329,000 after buying an additional 237 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Rush Enterprises by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock worth $1,897,000 after buying an additional 251 shares during the last quarter. Finally, Corbyn Investment Management Inc. MD raised its position in shares of Rush Enterprises by 0.9% in the 2nd quarter. Corbyn Investment Management Inc. MD now owns 28,058 shares of the company’s stock worth $1,445,000 after buying an additional 257 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.