Rush Enterprises (NASDAQ:RUSHA) Stock Rating Reaffirmed by Stephens

Rush Enterprises (NASDAQ:RUSHA)‘s stock had its “overweight” rating reaffirmed by analysts at Stephens in a report issued on Wednesday, Benzinga reports. They currently have a $60.00 price target on the stock. Stephens’ price target would indicate a potential upside of 31.64% from the company’s previous close.

Separately, StockNews.com downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, January 1st.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock traded down $3.65 during trading hours on Wednesday, reaching $45.58. 159,960 shares of the stock traded hands, compared to its average volume of 373,376. The company has a 50 day moving average price of $49.42 and a 200 day moving average price of $44.81. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.12 and a beta of 1.02. Rush Enterprises has a one year low of $33.37 and a one year high of $53.78. The company has a quick ratio of 0.27, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The company had revenue of $1.87 billion during the quarter. Rush Enterprises had a return on equity of 18.44% and a net margin of 4.38%. During the same quarter last year, the firm posted $1.07 earnings per share. On average, equities research analysts expect that Rush Enterprises will post 2.88 earnings per share for the current fiscal year.

Insider Transactions at Rush Enterprises

In other news, SVP Jody Pollard sold 11,250 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $48.28, for a total transaction of $543,150.00. Following the transaction, the senior vice president now owns 2,777 shares of the company’s stock, valued at approximately $134,073.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUSHA. State of Alaska Department of Revenue raised its stake in shares of Rush Enterprises by 50.0% in the third quarter. State of Alaska Department of Revenue now owns 95,737 shares of the company’s stock worth $3,908,000 after purchasing an additional 31,912 shares during the last quarter. Corbyn Investment Management Inc. MD raised its stake in shares of Rush Enterprises by 47.9% in the third quarter. Corbyn Investment Management Inc. MD now owns 29,142 shares of the company’s stock worth $1,190,000 after purchasing an additional 9,438 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Rush Enterprises by 50.0% in the third quarter. Handelsbanken Fonder AB now owns 14,439 shares of the company’s stock worth $590,000 after purchasing an additional 4,813 shares during the last quarter. Simplicity Solutions LLC raised its stake in shares of Rush Enterprises by 51.2% in the third quarter. Simplicity Solutions LLC now owns 13,050 shares of the company’s stock worth $533,000 after purchasing an additional 4,419 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in Rush Enterprises by 31.2% in the third quarter. Peregrine Capital Management LLC now owns 264,376 shares of the company’s stock valued at $10,794,000 after acquiring an additional 62,894 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.