Seaport Global Securities reissued their buy rating on shares of Rush Enterprises (NASDAQ:RUSHA) in a report released on Wednesday, January 17th. They currently have a $62.00 price target 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 equities analysts have also recently weighed in on RUSHA. Zacks Investment Research cut shares of Rush Enterprises from a strong-buy rating to a hold rating in a research note on Wednesday, September 27th. ValuEngine cut shares of Rush Enterprises from a buy rating to a hold rating in a research note on Monday, October 2nd. BMO Capital Markets reissued 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. Stifel Nicolaus increased their price objective 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. Finally, BidaskClub lowered shares of Rush Enterprises from a buy rating to a hold rating in a report on Saturday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $51.00.
Shares of Rush Enterprises (NASDAQ:RUSHA) traded up $0.56 on Wednesday, reaching $48.05. 325,862 shares of the company’s stock traded hands, compared to its average volume of 241,346. 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 $55.40. The firm has a market cap of $1,880.00, a PE ratio of 24.90, a P/E/G ratio of 1.18 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 authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, SVP James E. Thor sold 24,200 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 39,032 shares of the company’s stock, valued at $1,900,858.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Anderson sold 12,144 shares of the firm’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 sale, the senior vice president now directly owns 3,600 shares of the company’s stock, valued at approximately $182,736. The disclosure for this sale can be found here. Corporate insiders own 11.19% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its holdings in Rush Enterprises by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock worth $152,000 after purchasing an additional 316 shares during the period. Great West Life Assurance Co. Can lifted its stake in Rush Enterprises by 70.7% in 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 last quarter. Sei Investments Co. bought a new stake in Rush Enterprises in the third quarter valued at $182,000. Trexquant Investment LP bought a new stake in Rush Enterprises in the third quarter valued at $204,000. Finally, Wrapmanager Inc. bought a new stake in Rush Enterprises in the third quarter valued at $216,000. 76.90% of the stock is owned by institutional investors and hedge funds.
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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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