Rush Enterprises (NASDAQ:RUSHA) Raised to “Buy” at Wall Street Zen

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

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

Rush Enterprises Price Performance

NASDAQ:RUSHA opened at $67.02 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The stock’s 50-day simple moving average is $70.08 and its 200 day simple moving average is $64.52. The company has a market cap of $5.21 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.40 and a beta of 0.88. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. As a group, sell-side analysts forecast that Rush Enterprises will post 3.79 EPS for the current fiscal year.

Insider Transactions at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the transaction, the director owned 16,229 shares in the company, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the transaction, the director owned 41,170 shares of the company’s stock, valued at $2,678,108.50. The trade was a 19.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC grew its holdings in 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 purchasing an additional 175 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of Rush Enterprises by 1.1% during the fourth quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock worth $966,000 after acquiring an additional 200 shares during the period. California State Teachers Retirement System boosted its holdings in shares of 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 acquiring an additional 208 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Rush Enterprises by 44.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock worth $40,000 after acquiring an additional 230 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Rush Enterprises by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock worth $1,897,000 after acquiring an additional 251 shares during the period. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

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.