Rush Enterprises (RUSHA) Upgraded to “Overweight” by Stephens

Rush Enterprises (NASDAQ:RUSHA) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Friday, The Fly reports.

Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Rush Enterprises from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Wednesday. ValuEngine upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus restated a “hold” rating and issued a $51.00 target price on shares of Rush Enterprises in a report on Tuesday, January 23rd. Finally, Seaport Global Securities reiterated a “buy” rating and set a $62.00 price target on shares of Rush Enterprises in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $51.40.

Shares of Rush Enterprises (NASDAQ:RUSHA) opened at $45.46 on Friday. Rush Enterprises has a 1 year low of $30.74 and a 1 year high of $55.40. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1,889.72, a P/E ratio of 23.55, a P/E/G ratio of 1.24 and a beta of 1.09.

Rush Enterprises declared that its Board of Directors has authorized a stock buyback program on Thursday, November 30th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, SVP James E. Thor sold 24,200 shares of Rush Enterprises stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.70, for a total transaction of $1,178,540.00. Following the transaction, the senior vice president now owns 39,032 shares in the company, valued at approximately $1,900,858.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Scott T. Anderson sold 12,144 shares of Rush Enterprises stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total transaction of $616,429.44. Following the transaction, the senior vice president now owns 3,600 shares in the company, valued at approximately $182,736. The disclosure for this sale can be found here. Company insiders own 11.19% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its stake in shares of Rush Enterprises by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock valued at $152,000 after buying an additional 316 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Rush Enterprises by 16.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 216,286 shares of the company’s stock valued at $10,012,000 after buying an additional 30,429 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Rush Enterprises during the 3rd quarter valued at $1,872,000. Dimensional Fund Advisors LP lifted its stake in shares of Rush Enterprises by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,618,857 shares of the company’s stock valued at $121,227,000 after buying an additional 48,762 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Rush Enterprises by 14.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 298,448 shares of the company’s stock valued at $13,816,000 after buying an additional 36,914 shares in the last quarter. Institutional investors own 77.80% of the company’s stock.

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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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