Zacks Investment Research upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $54.00 price objective on the stock.

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 also recently issued research reports about the company. ValuEngine raised Rush Enterprises from a hold rating to a buy rating in a research note on Friday, February 2nd. Stifel Nicolaus reaffirmed a hold rating and set a $51.00 price objective on shares of Rush Enterprises in a research note on Tuesday, January 23rd. Seaport Global Securities reaffirmed a buy rating and set a $62.00 price objective on shares of Rush Enterprises in a research note on Wednesday, January 17th. BidaskClub downgraded Rush Enterprises from a buy rating to a hold rating in a research note on Saturday, December 9th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a $50.00 price objective (up previously from $42.00) on shares of Rush Enterprises in a research note on Monday, October 30th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $51.40.

Rush Enterprises (NASDAQ:RUSHA) opened at $47.44 on Wednesday. Rush Enterprises has a 12-month low of $30.74 and a 12-month high of $55.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.29. The stock has a market capitalization of $1,904.06, a price-to-earnings ratio of 24.77, a PEG ratio of 1.25 and a beta of 1.09.

Rush Enterprises announced that its Board of Directors has approved a stock buyback program on Thursday, November 30th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

In other Rush Enterprises news, SVP Scott T. Anderson sold 12,144 shares of Rush Enterprises stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.76, for a total value of $616,429.44. Following the sale, the senior vice president now owns 3,600 shares of the company’s stock, valued at approximately $182,736. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James E. Thor sold 24,200 shares of Rush Enterprises stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.70, for a total value of $1,178,540.00. Following the completion of the sale, the senior vice president now directly owns 39,032 shares in the company, valued at approximately $1,900,858.40. The disclosure for this sale can be found here. Company insiders own 11.19% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its stake in shares of Rush Enterprises by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock valued at $152,000 after purchasing an additional 316 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Rush Enterprises by 70.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,362 shares of the company’s stock valued at $157,000 after purchasing an additional 1,393 shares during the period. Sei Investments Co. acquired a new stake in shares of Rush Enterprises in the 3rd quarter valued at about $182,000. Trexquant Investment LP bought a new position in shares of Rush Enterprises in the 3rd quarter valued at about $204,000. Finally, Wrapmanager Inc. bought a new position in shares of Rush Enterprises in the 3rd quarter valued at about $216,000. 77.80% of the stock is currently owned by hedge funds and other institutional investors.

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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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