Rush Enterprises (NASDAQ:RUSHA – Get Free Report)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a report issued on Tuesday,Benzinga reports. They currently have a $85.00 price objective on the stock. Stephens’ price objective points to a potential upside of 23.67% from the stock’s current price.
Several other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. UBS Group increased their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target for the company. Finally, Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rush Enterprises has a consensus rating of “Hold” and an average price target of $83.67.
Check Out Our Latest Report on Rush Enterprises
Rush Enterprises Stock Performance
Rush Enterprises (NASDAQ:RUSHA – Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. On average, analysts expect that Rush Enterprises will post 3.79 EPS for the current fiscal year.
Insider Activity
In other news, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $71.86, for a total value of $323,370.00. Following the sale, the senior vice president directly owned 12,590 shares of the company’s stock, valued at approximately $904,717.40. This represents a 26.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,750 shares of company stock valued at $2,927,290. Corporate insiders own 12.68% of the company’s stock.
Institutional Investors Weigh In On Rush Enterprises
A number of institutional investors and hedge funds have recently modified their holdings of RUSHA. Jennison Associates LLC lifted its holdings in shares of Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after buying an additional 700,511 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock worth $51,566,000 after buying an additional 607,047 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Rush Enterprises in the fourth quarter worth about $25,811,000. Millennium Management LLC lifted its holdings in shares of Rush Enterprises by 280.4% in the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after buying an additional 398,721 shares in the last quarter. Finally, Cooke & Bieler LP raised its stake in Rush Enterprises by 85.0% in the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after purchasing an additional 335,019 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other 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.
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