Zacks Investment Research Downgrades Rush Enterprises Inc. (RUSHA) to Hold
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 recently issued reports about the stock. Stephens cut shares of Rush Enterprises from an “overweight” rating to an “equal weight” rating in a report on Friday, July 15th. BMO Capital Markets boosted their target price on shares of Rush Enterprises from $20.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Rush Enterprises has an average rating of “Hold” and an average price target of $19.67.
Shares of Rush Enterprises (NASDAQ:RUSHA) traded up 1.67% during midday trading on Wednesday, hitting $25.55. 111,583 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $23.63 and its 200-day moving average is $21.36. The stock has a market cap of $1.01 billion, a PE ratio of 24.54 and a beta of 1.53. Rush Enterprises has a 1-year low of $14.19 and a 1-year high of $27.45.
Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, July 26th. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Rush Enterprises had a net margin of 0.94% and a return on equity of 6.16%. The business had revenue of $1.03 billion for 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.
A number of hedge funds have recently bought and sold shares of the stock. Cortina Asset Management LLC purchased a new stake in Rush Enterprises during the second quarter worth approximately $4,548,000. Renaissance Technologies LLC purchased a new stake in Rush Enterprises during the first quarter worth approximately $2,717,000. Vanguard Group Inc. raised its stake in Rush Enterprises by 4.2% in the second quarter. Vanguard Group Inc. now owns 2,385,606 shares of the company’s stock worth $51,409,000 after buying an additional 95,672 shares in the last quarter. Bank of Montreal Can purchased a new stake in Rush Enterprises during the second quarter worth approximately $2,031,000. Finally, First Trust Advisors LP purchased a new stake in Rush Enterprises during the second quarter worth approximately $1,995,000. 78.52% of the stock is owned by institutional investors.
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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