Cornerstone Capital Management Holdings LLC. lowered its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 40.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,526 shares of the company’s stock after selling 93,600 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.35% of Rush Enterprises worth $5,187,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Rush Enterprises by 8.5% during the second quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock worth $109,302,000 after purchasing an additional 230,463 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Rush Enterprises by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,570,095 shares of the company’s stock worth $95,556,000 after purchasing an additional 20,728 shares in the last quarter. FMR LLC grew its position in shares of Rush Enterprises by 11.6% during the first quarter. FMR LLC now owns 1,666,196 shares of the company’s stock worth $55,119,000 after purchasing an additional 173,370 shares in the last quarter. Northern Trust Corp grew its position in shares of Rush Enterprises by 7.5% during the second quarter. Northern Trust Corp now owns 989,043 shares of the company’s stock worth $36,773,000 after purchasing an additional 69,015 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Rush Enterprises by 17.4% during the second quarter. JPMorgan Chase & Co. now owns 799,150 shares of the company’s stock worth $29,712,000 after purchasing an additional 118,386 shares in the last quarter. Hedge funds and other institutional investors own 75.45% of the company’s stock.
Several analysts recently issued reports on the company. ValuEngine cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research cut Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Buckingham Research assumed coverage on Rush Enterprises in a research report on Tuesday, September 5th. They set a “neutral” rating and a $40.00 target price for the company. BidaskClub cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, BMO Capital Markets increased their target price on Rush Enterprises from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $41.80.
Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at 46.32 on Thursday. Rush Enterprises, Inc. has a 52 week low of $21.99 and a 52 week high of $47.32. The company’s 50-day moving average price is $42.90 and its 200-day moving average price is $38.47. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 29.24 and a beta of 1.18.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.15. Rush Enterprises had a return on equity of 7.31% and a net margin of 1.46%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.07 billion. Equities analysts forecast that Rush Enterprises, Inc. will post $1.79 earnings per share for the current fiscal year.
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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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