Granahan Investment Management Inc. MA boosted its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 206,724 shares of the company’s stock after buying an additional 3,748 shares during the period. Granahan Investment Management Inc. MA owned 0.52% of Rush Enterprises worth $9,569,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of RUSHA. Castleark Management LLC acquired a new stake in Rush Enterprises in the 2nd quarter worth about $8,598,000. Vanguard Group Inc. boosted its stake in Rush Enterprises by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock worth $109,302,000 after buying an additional 230,463 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in Rush Enterprises in the 2nd quarter worth about $6,864,000. ClariVest Asset Management LLC acquired a new stake in Rush Enterprises in the 2nd quarter worth about $5,470,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Rush Enterprises by 17.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 799,150 shares of the company’s stock valued at $29,712,000 after purchasing an additional 118,386 shares in the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.
RUSHA has been the topic of several research analyst reports. Zacks Investment Research raised Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective on the stock in a research note on Wednesday, October 18th. Stifel Nicolaus lifted their price objective on Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, October 30th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $50.00 price objective (up from $42.00) on shares of Rush Enterprises in a research note on Monday, October 30th. They noted that the move was a valuation call. ValuEngine raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Buckingham Research initiated coverage on Rush Enterprises in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $40.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Rush Enterprises has a consensus rating of “Hold” and an average price target of $46.00.
Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at $49.03 on Monday. The firm has a market capitalization of $1,953.06, a PE ratio of 25.40, a PEG ratio of 1.58 and a beta of 1.17. Rush Enterprises, Inc. has a 52 week low of $29.68 and a 52 week high of $54.11. The company has a quick ratio of 0.29, a current ratio of 1.16 and a debt-to-equity ratio of 0.55.
Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.25. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Rush Enterprises had a return on equity of 8.82% and a net margin of 1.74%. sell-side analysts anticipate that Rush Enterprises, Inc. will post 2.07 earnings per share for the current fiscal year.
Rush Enterprises declared that its board has approved a stock repurchase program on Thursday, November 30th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, SVP Scott T. Anderson sold 12,144 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.76, for a total transaction of $616,429.44. Following the transaction, the senior vice president now directly owns 3,600 shares of the company’s stock, valued at approximately $182,736. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Thor sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $48.70, for a total value of $1,178,540.00. Following the transaction, the senior vice president now directly owns 39,032 shares in the company, valued at $1,900,858.40. The disclosure for this sale can be found here. Insiders have sold a total of 73,982 shares of company stock worth $3,747,332 over the last three months. 11.19% of the stock is currently owned by corporate insiders.
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Rush Enterprises Profile
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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