Seaport Global Securities Reiterates “Buy” Rating for Rush Enterprises (RUSHA)

Seaport Global Securities reiterated their buy rating on shares of Rush Enterprises (NASDAQ:RUSHA) in a research report report published on Wednesday. They currently have a $62.00 price objective on the stock. Seaport Global Securities also issued estimates for Rush Enterprises’ Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $2.15 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.10 EPS.

A number of other research firms have also recently weighed in on RUSHA. Stifel Nicolaus upped their target price on shares of 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 reissued a market perform rating and issued a $50.00 target price (up previously 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 cut shares of Rush Enterprises from a buy rating to a hold rating in a research note on Wednesday, December 27th. BidaskClub cut shares of Rush Enterprises from a buy rating to a hold rating in a research note on Saturday, December 9th. Finally, Zacks Investment Research raised shares of 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. Four equities research 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’s stock. Rush Enterprises has a consensus rating of Buy and an average target price of $50.00.

Rush Enterprises (NASDAQ RUSHA) traded up $0.80 during midday trading on Wednesday, reaching $53.13. 125,383 shares of the company were exchanged, compared to its average volume of 170,473. The company has a market capitalization of $2,116.38, a PE ratio of 27.53, a P/E/G ratio of 1.41 and a beta of 1.17. Rush Enterprises has a twelve month low of $30.74 and a twelve month high of $54.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.29 and a current ratio of 1.16.

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

Rush Enterprises announced that its Board of Directors has authorized a stock buyback program on Thursday, November 30th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

In other news, EVP Derrek Weaver sold 26,732 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 14,733 shares in the company, valued at $768,031.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William M. Rusty Rush sold 10,906 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $51.24, for a total transaction of $558,823.44. Following the transaction, the chief executive officer now owns 96,155 shares in the company, valued at $4,926,982.20. The disclosure for this sale can be found here. Insiders have sold 73,982 shares of company stock worth $3,747,332 over the last ninety days. Insiders own 11.19% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its position in shares of Rush Enterprises by 229.6% during the fourth quarter. Acadian Asset Management LLC now owns 10,203 shares of the company’s stock worth $519,000 after purchasing an additional 7,107 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Rush Enterprises by 3.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 308,763 shares of the company’s stock worth $15,689,000 after purchasing an additional 10,315 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Rush Enterprises during the fourth quarter worth approximately $1,454,000. Atlantic Trust Group LLC acquired a new position in shares of Rush Enterprises during the third quarter worth approximately $1,246,000. Finally, California Public Employees Retirement System lifted its position in shares of Rush Enterprises by 5.0% during the third quarter. California Public Employees Retirement System now owns 39,285 shares of the company’s stock worth $1,819,000 after purchasing an additional 1,885 shares in the last quarter. Institutional investors own 76.27% of the company’s stock.

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Rush Enterprises Company 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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