Zacks Investment Research upgraded shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) from a hold rating to a strong-buy rating in a research note released on Wednesday. Zacks Investment Research currently has $53.00 target price 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. “
A number of other research analysts have also recently commented on RUSHA. ValuEngine cut Rush Enterprises from a buy rating to a hold rating in a report on Monday, October 2nd. BidaskClub upgraded Rush Enterprises from a hold rating to a buy rating in a report on Wednesday, August 2nd. BMO Capital Markets upped their price objective on Rush Enterprises from $30.00 to $42.00 and gave the company an outperform rating in a report on Tuesday, August 1st. Stifel Nicolaus reiterated a hold rating and issued a $38.00 price objective on shares of Rush Enterprises in a report on Friday, July 28th. Finally, Buckingham Research initiated coverage on Rush Enterprises in a research note on Tuesday, September 5th. They set a neutral rating and a $40.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $43.00.
Shares of Rush Enterprises (NASDAQ:RUSHA) traded up 2.65% during midday trading on Wednesday, hitting $47.20. The company had a trading volume of 317,974 shares. The company has a 50-day moving average of $43.81 and a 200-day moving average of $38.96. The company has a market capitalization of $1.88 billion, a PE ratio of 29.80 and a beta of 1.18. Rush Enterprises has a 12 month low of $22.47 and a 12 month high of $47.32.
Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. Rush Enterprises had a return on equity of 7.31% and a net margin of 1.46%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Analysts predict that Rush Enterprises will post $1.81 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of RUSHA. Ameritas Investment Partners Inc. increased its holdings in Rush Enterprises by 153.1% in the first quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock valued at $125,000 after buying an additional 2,296 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in Rush Enterprises in the third quarter valued at $237,000. BNP Paribas Arbitrage SA increased its holdings in Rush Enterprises by 226.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock valued at $229,000 after buying an additional 4,279 shares during the last quarter. Aperio Group LLC purchased a new position in Rush Enterprises in the second quarter valued at $243,000. Finally, PNC Financial Services Group Inc. increased its holdings in Rush Enterprises by 12.7% in the second quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $256,000 after buying an additional 780 shares during the last quarter. 75.45% of the stock is currently owned by institutional investors and hedge funds.
Rush Enterprises Company Profile
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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