Rush Enterprises (NASDAQ:RUSHA) Downgraded by Wall Street Zen to Hold

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

A number of other equities analysts have also weighed in on the stock. Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 target price for the company. Stephens reiterated an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th. Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, UBS Group increased their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Rush Enterprises currently has an average rating of “Hold” and an average price target of $83.67.

Rush Enterprises Price Performance

RUSHA opened at $69.98 on Friday. The firm has a market cap of $5.44 billion, a P/E ratio of 21.14, a PEG ratio of 1.48 and a beta of 0.88. The firm has a 50-day moving average of $70.34 and a 200 day moving average of $65.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. Rush Enterprises has a fifty-two week low of $45.67 and a fifty-two week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. On average, research analysts expect that Rush Enterprises will post 3.79 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director directly owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This trade represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RUSHA. Root Financial Partners LLC raised its stake in shares of Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after buying an additional 431 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after buying an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises during the 3rd quarter valued at $34,000. Finally, Allworth Financial LP raised its position in shares of Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares during the last quarter. 84.43% of the stock is 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.