Rush Enterprises, Inc. (NASDAQ:RUSHA) has received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $49.20.
Several research analysts have recently weighed in on the stock. Seaport Global Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Rush Enterprises in a report on Wednesday, January 17th. ValuEngine raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. Zacks Investment Research raised shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, February 7th. Stifel Nicolaus set a $49.00 target price on Rush Enterprises and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, BidaskClub cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th.
In other Rush Enterprises news, SVP Scott T. Anderson sold 12,144 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total transaction of $616,429.44. Following the completion of the sale, the senior vice president now directly owns 3,600 shares in the company, valued at $182,736. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 11.19% of the company’s stock.
Several institutional investors have recently bought and sold shares of RUSHA. Wells Fargo & Company MN boosted its holdings in shares of Rush Enterprises by 11.9% during the second quarter. Wells Fargo & Company MN now owns 36,719 shares of the company’s stock worth $1,366,000 after purchasing an additional 3,913 shares during the period. Teachers Advisors LLC raised its stake in Rush Enterprises by 5.3% in the second quarter. Teachers Advisors LLC now owns 56,496 shares of the company’s stock worth $2,101,000 after buying an additional 2,840 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Rush Enterprises by 147.3% in the second quarter. Ameriprise Financial Inc. now owns 126,865 shares of the company’s stock worth $4,718,000 after buying an additional 75,573 shares in the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $256,000 after buying an additional 780 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Rush Enterprises by 7.9% in the second quarter. UBS Asset Management Americas Inc. now owns 16,543 shares of the company’s stock worth $615,000 after buying an additional 1,218 shares in the last quarter. Institutional investors own 77.02% of the company’s stock.
Shares of Rush Enterprises (RUSHA) traded down $1.99 during mid-day trading on Tuesday, reaching $40.78. 401,144 shares of the company’s stock were exchanged, compared to its average volume of 286,525. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.29. Rush Enterprises has a 1-year low of $30.74 and a 1-year high of $55.40. The company has a market cap of $1,703.70, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.09.
Rush Enterprises announced that its board has initiated a stock repurchase plan on Thursday, November 30th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
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About Rush Enterprises
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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