ValuEngine Downgrades Rush Enterprises (NASDAQ:RUSHA) to Hold

Rush Enterprises (NASDAQ:RUSHA) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, December 27th.

Several other research firms also recently commented on RUSHA. BidaskClub downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Zacks Investment Research raised shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, October 18th. Buckingham Research began coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They set a “neutral” rating and a $40.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Rush Enterprises from $41.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $50.00 price target (up from $42.00) on shares of Rush Enterprises in a research report on Monday, October 30th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $46.00.

Rush Enterprises (NASDAQ:RUSHA) opened at $53.57 on Wednesday. The firm has a market cap of $2,152.63, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. 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 has a 12 month low of $30.74 and a 12 month high of $54.35.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. sell-side analysts predict that Rush Enterprises will post 2.17 earnings per share for the current fiscal year.

Rush Enterprises announced that its Board of Directors has approved a share repurchase plan on Thursday, November 30th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

In other Rush Enterprises news, SVP Scott T. Anderson sold 12,144 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total value of $616,429.44. Following the sale, the senior vice president now owns 3,600 shares of the company’s stock, valued at $182,736. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Derrek Weaver sold 26,732 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the completion of the sale, the executive vice president now directly owns 14,733 shares in the company, valued at approximately $768,031.29. The disclosure for this sale can be found here. Insiders sold 73,982 shares of company stock valued at $3,747,332 over the last ninety days. Corporate insiders own 11.19% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its stake in shares of Rush Enterprises by 8.3% during the second 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 during the period. Great West Life Assurance Co. Can lifted its stake in shares of Rush Enterprises by 70.7% during the third quarter. Great West Life Assurance Co. Can now owns 3,362 shares of the company’s stock valued at $157,000 after buying an additional 1,393 shares during the period. Sei Investments Co. purchased a new position in shares of Rush Enterprises during the third quarter valued at approximately $182,000. Trexquant Investment LP purchased a new position in Rush Enterprises during the third quarter worth approximately $204,000. Finally, Wrapmanager Inc. purchased a new position in Rush Enterprises during the third quarter worth approximately $216,000. 76.27% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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