Rush Enterprises (NASDAQ:RUSHA – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.
A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, June 18th. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Stephens reiterated an “overweight” rating and issued a $85.00 price objective on shares of Rush Enterprises in a research note on Tuesday, May 19th. UBS Group increased their price objective on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Rush Enterprises presently has an average rating of “Moderate Buy” and an average price target of $83.67.
Check Out Our Latest Stock Report on Rush Enterprises
Rush Enterprises Price Performance
Rush Enterprises (NASDAQ:RUSHA – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. As a group, sell-side analysts anticipate that Rush Enterprises will post 3.79 EPS for the current year.
Insider Buying and Selling at Rush Enterprises
In other news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director owned 16,229 shares of the company’s stock, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.68% of the company’s stock.
Hedge Funds Weigh In On Rush Enterprises
A number of hedge funds and other institutional investors have recently bought and sold shares of RUSHA. Dimensional Fund Advisors LP increased its stake in shares of Rush Enterprises by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock worth $203,618,000 after acquiring an additional 29,375 shares during the period. State Street Corp lifted its position in Rush Enterprises by 0.3% in the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after purchasing an additional 6,994 shares during the period. American Century Companies Inc. boosted its holdings in Rush Enterprises by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock valued at $62,743,000 after purchasing an additional 326,917 shares in the last quarter. Jennison Associates LLC boosted its holdings in Rush Enterprises by 166.4% in the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after purchasing an additional 700,511 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. increased its position in Rush Enterprises by 20.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock worth $54,613,000 after purchasing an additional 173,096 shares during the period. 84.43% of the stock is currently 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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