Zacks Investment Research upgraded shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) from a hold rating to a strong-buy rating in a report issued on Wednesday. They currently have $53.00 price objective 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. “
Other research analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed a hold rating and issued a $30.00 target price on shares of Rush Enterprises in a research report on Friday, July 7th. BidaskClub downgraded shares of Rush Enterprises from a buy rating to a hold rating in a research report on Wednesday, July 19th. ValuEngine downgraded shares of Rush Enterprises from a buy rating to a hold rating in a research report on Monday, October 2nd. Stifel Nicolaus reaffirmed a hold rating and issued a $38.00 target price on shares of Rush Enterprises in a research report on Friday, July 28th. Finally, Buckingham Research began coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They issued a neutral rating and a $40.00 target price for the company. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $43.00.
Rush Enterprises (RUSHA) traded up 2.99% during trading on Wednesday, hitting $48.61. 277,382 shares of the stock traded hands. Rush Enterprises has a one year low of $22.52 and a one year high of $48.82. The company has a market capitalization of $1.93 billion, a P/E ratio of 30.69 and a beta of 1.18. The company’s 50 day moving average is $44.22 and its 200 day moving average is $39.14.
Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Wednesday, July 26th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.07 billion. Rush Enterprises had a net margin of 1.46% and a return on equity of 7.31%. On average, equities analysts forecast that Rush Enterprises will post $1.81 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of Rush Enterprises by 701.2% in the 1st quarter. AQR Capital Management LLC now owns 278,442 shares of the company’s stock valued at $9,211,000 after acquiring an additional 243,688 shares during the period. Castleark Management LLC bought a new position in shares of Rush Enterprises in the 2nd quarter valued at about $8,598,000. Vanguard Group Inc. grew its position in shares of Rush Enterprises by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock valued at $109,302,000 after acquiring an additional 230,463 shares during the period. Intrinsic Edge Capital Management LLC bought a new position in shares of Rush Enterprises in the 2nd quarter valued at about $6,864,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Rush Enterprises by 157.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 287,562 shares of the company’s stock valued at $9,512,000 after acquiring an additional 175,679 shares during the period. 75.45% of the stock is owned by institutional investors and hedge funds.
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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