ValuEngine Downgrades Rush Enterprises, Inc. (RUSHA) to Hold
ValuEngine lowered shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of Rush Enterprises from a buy rating to a hold rating in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Rush Enterprises from a hold rating to a strong-buy rating and set a $47.00 target price on the stock in a research report on Saturday, July 29th. Buckingham Research assumed coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They set a neutral rating and a $40.00 target price on the stock. BMO Capital Markets restated a hold rating and set a $30.00 target price on shares of Rush Enterprises in a research report on Friday, July 7th. Finally, Stifel Nicolaus restated a hold rating and set a $38.00 target price on shares of Rush Enterprises in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $41.80.
Rush Enterprises (NASDAQ RUSHA) traded down 1.01% during mid-day trading on Monday, hitting $46.19. The stock had a trading volume of 125,211 shares. The company has a 50-day moving average price of $42.17 and a 200 day moving average price of $38.04. The company has a market cap of $1.84 billion, a P/E ratio of 29.16 and a beta of 1.18. Rush Enterprises has a 1-year low of $21.99 and a 1-year high of $47.32.
Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Wednesday, July 26th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.15. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.07 billion. Rush Enterprises had a net margin of 1.46% and a return on equity of 7.31%. Equities research analysts forecast that Rush Enterprises will post $1.79 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its holdings in shares of Rush Enterprises by 153.1% during the first quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock valued at $125,000 after buying an additional 2,296 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Rush Enterprises by 226.6% during the second quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock worth $229,000 after purchasing an additional 4,279 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in Rush Enterprises during the third quarter worth about $237,000. Aperio Group LLC purchased a new position in Rush Enterprises during the second quarter worth about $243,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Rush Enterprises by 12.7% during the second quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $256,000 after purchasing an additional 780 shares during the last quarter. 75.44% of the stock is owned by institutional investors and hedge funds.
About Rush Enterprises
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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