Rush Enterprises, Inc. (NASDAQ:RUSHA) – Stock analysts at Seaport Global Securities raised their Q2 2018 EPS estimates for Rush Enterprises in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Shlisky now expects that the company will post earnings of $0.72 per share for the quarter, up from their prior forecast of $0.64. Seaport Global Securities has a “Buy” rating and a $62.00 price target on the stock. Seaport Global Securities also issued estimates for Rush Enterprises’ Q3 2018 earnings at $0.89 EPS, Q4 2018 earnings at $0.85 EPS, FY2018 earnings at $2.88 EPS and FY2019 earnings at $3.28 EPS.
Other equities analysts have also issued research reports about the stock. ValuEngine raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, February 7th. Stifel Nicolaus set a $49.00 price objective on shares of Rush Enterprises and gave the company a “hold” rating in a research report on Friday, February 9th. BidaskClub downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $50.00 target price (up from $42.00) on shares of Rush Enterprises in a report on Monday, October 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $49.20.
Rush Enterprises (NASDAQ RUSHA) opened at $40.78 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.29. The firm has a market cap of $1,703.70, a P/E ratio of 19.01, a PEG ratio of 1.06 and a beta of 1.09. Rush Enterprises has a 52-week low of $30.74 and a 52-week high of $55.40.
Rush Enterprises announced that its Board of Directors has authorized a share 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 repurchase shares of its stock through open market purchases. Shares buyback programs are usually 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 business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 3,600 shares in the company, valued at $182,736. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.19% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in shares of Rush Enterprises by 11.9% during the second quarter. Wells Fargo & Company MN now owns 36,719 shares of the company’s stock worth $1,366,000 after purchasing an additional 3,913 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Rush Enterprises by 147.3% during the second quarter. Ameriprise Financial Inc. now owns 126,865 shares of the company’s stock worth $4,718,000 after purchasing an additional 75,573 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Rush Enterprises by 12.7% during the second quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $256,000 after purchasing an additional 780 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Rush Enterprises by 7.9% during the second quarter. UBS Asset Management Americas Inc. now owns 16,543 shares of the company’s stock worth $615,000 after purchasing an additional 1,218 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Rush Enterprises by 8.5% during the second quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock worth $109,302,000 after purchasing an additional 230,463 shares during the period. Institutional investors and hedge funds own 77.02% 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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