Rush Enterprises (NASDAQ:RUSHA) Upgraded by Zacks Research to Hold Rating

Rush Enterprises (NASDAQ:RUSHA) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

RUSHA has been the subject of several other research reports. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, June 18th. Wolfe Research assumed coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective for the company. Stephens reissued an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. Finally, UBS Group boosted their target price on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.67.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $72.99 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The stock has a 50 day moving average price of $70.72 and a two-hundred day moving average price of $66.78. The firm has a market capitalization of $5.67 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.53 and a beta of 0.88. Rush Enterprises has a 52 week low of $45.67 and a 52 week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Equities analysts forecast that Rush Enterprises will post 3.79 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the sale, the director owned 16,229 shares in the company, valued at $1,172,220.67. This trade represents a 33.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.68% of the stock is currently owned by insiders.

Institutional Trading of Rush Enterprises

A number of large investors have recently bought and sold shares of RUSHA. Root Financial Partners LLC raised its stake in shares of Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. CIBC Private Wealth Group LLC raised its stake in Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after acquiring an additional 431 shares during the period. Private Trust Co. NA raised its stake in 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 acquiring an additional 370 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in Rush Enterprises during the third quarter valued at about $34,000. Finally, Allworth Financial LP boosted its position in Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares during the period. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Company Profile

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.