Morgan Stanley raised its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 102.6% during the first quarter, Holdings Channel reports. The fund owned 196,005 shares of the company’s stock after buying an additional 99,240 shares during the period. Morgan Stanley’s holdings in Rush Enterprises were worth $6,484,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Rush Enterprises by 32.8% in the first quarter. Geode Capital Management LLC now owns 341,393 shares of the company’s stock worth $11,292,000 after buying an additional 84,407 shares during the period. Vanguard Group Inc. increased its stake in shares of Rush Enterprises by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,709,339 shares of the company’s stock worth $89,625,000 after buying an additional 104,057 shares during the period. Menta Capital LLC increased its stake in shares of Rush Enterprises by 76.6% in the first quarter. Menta Capital LLC now owns 21,370 shares of the company’s stock worth $707,000 after buying an additional 9,270 shares during the period. Koch Industries Inc. purchased a new stake in shares of Rush Enterprises during the first quarter worth approximately $294,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Rush Enterprises by 3.1% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 42,085 shares of the company’s stock worth $1,393,000 after buying an additional 1,275 shares during the period. Institutional investors own 76.75% of the company’s stock.

Shares of Rush Enterprises, Inc. (RUSHA) traded down 0.12% during midday trading on Friday, hitting $41.55. 18,687 shares of the stock were exchanged. The stock’s 50-day moving average price is $37.60 and its 200 day moving average price is $35.41. The stock has a market cap of $1.64 billion, a P/E ratio of 26.23 and a beta of 1.19. Rush Enterprises, Inc. has a one year low of $21.99 and a one year high of $43.55.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. Rush Enterprises had a net margin of 1.46% and a return on equity of 7.37%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.07 billion. On average, analysts anticipate that Rush Enterprises, Inc. will post $1.75 earnings per share for the current year.

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A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets lifted their price target on shares of Rush Enterprises from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Saturday, July 29th. Stifel Nicolaus reiterated a “hold” rating and set a $38.00 price target on shares of Rush Enterprises in a report on Friday, July 28th. Finally, TheStreet upgraded shares of Rush Enterprises from a “c+” rating to a “b-” rating in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $42.25.

Rush Enterprises Company Profile

Rush Enterprises, Inc is an integrated 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. Through its Rush Truck Centers, it 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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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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