Rush Enterprises (NASDAQ:RUSHA) Hits New 52-Week High – Time to Buy?

Rush Enterprises, Inc. (NASDAQ:RUSHA) reached a new 52-week high during trading on Monday . The company traded as high as $66.31 and last traded at $66.2750, with a volume of 117579 shares traded. The stock had previously closed at $64.19.

Analysts Set New Price Targets

A number of analysts recently issued reports on RUSHA shares. Stephens lowered their target price on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a report on Thursday, January 22nd. UBS Group started coverage on shares of Rush Enterprises in a report on Wednesday, January 28th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Rush Enterprises Price Performance

The company’s 50-day simple moving average is $58.33 and its 200-day simple moving average is $55.18. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 0.83 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.34.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RUSHA. Farther Finance Advisors LLC grew its holdings in shares of Rush Enterprises by 250.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after purchasing an additional 365 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Rush Enterprises in the 3rd quarter valued at $34,000. Finally, Allworth Financial LP raised its holdings in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after buying an additional 637 shares in the last quarter. 84.43% of the stock is owned by institutional investors.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.