Rush Enterprises (NASDAQ:RUSHA) Sets New 1-Year High – Time to Buy?

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares reached a new 52-week high on Thursday . The stock traded as high as $74.19 and last traded at $73.6250, with a volume of 18750 shares traded. The stock had previously closed at $72.93.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stephens cut their price target on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group started coverage on Rush Enterprises in a report on Wednesday, January 28th. They set a “neutral” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Rush Enterprises currently has an average rating of “Hold” and a consensus target price of $62.50.

Rush Enterprises Trading Down 0.6%

The company has a quick ratio of 0.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average is $60.93 and its two-hundred day moving average is $56.06. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 0.88 and a beta of 0.92.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Rush Enterprises by 33.6% in the first quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock worth $575,000 after purchasing an additional 2,715 shares during the period. AQR Capital Management LLC boosted its stake in shares of Rush Enterprises by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock valued at $1,309,000 after purchasing an additional 1,806 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rush Enterprises by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock worth $1,935,000 after buying an additional 1,592 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Rush Enterprises by 18.4% during the first quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock worth $20,851,000 after buying an additional 60,615 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Rush Enterprises in the first quarter valued at approximately $221,000. Institutional investors own 84.43% of the company’s stock.

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.