Teacher Retirement System of Texas bought a new position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 10,677 shares of the company’s stock, valued at approximately $542,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Great West Life Assurance Co. Can increased its position in Rush Enterprises by 70.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 3,362 shares of the company’s stock worth $157,000 after purchasing an additional 1,393 shares in the last quarter. Sei Investments Co. acquired a new stake in Rush Enterprises during the 3rd quarter worth approximately $182,000. Trexquant Investment LP acquired a new stake in Rush Enterprises during the 3rd quarter worth approximately $204,000. Cubist Systematic Strategies LLC acquired a new stake in Rush Enterprises during the 3rd quarter worth approximately $236,000. Finally, Eqis Capital Management Inc. increased its position in Rush Enterprises by 25.1% during the 4th quarter. Eqis Capital Management Inc. now owns 6,407 shares of the company’s stock worth $326,000 after purchasing an additional 1,287 shares in the last quarter. 78.75% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on RUSHA shares. Seaport Global Securities reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rush Enterprises in a research report on Wednesday, January 17th. 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. Buckingham Research raised shares of Rush Enterprises from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Rush Enterprises in a research report on Tuesday, January 23rd. One investment 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. Rush Enterprises currently has a consensus rating of “Hold” and a consensus target price of $51.80.
Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) opened at $42.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.17 and a quick ratio of 0.29. Rush Enterprises, Inc. has a 1 year low of $30.74 and a 1 year high of $55.40. The stock has a market cap of $1,661.04, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.28.
Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Rush Enterprises had a net margin of 3.65% and a return on equity of 10.00%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. equities research analysts forecast that Rush Enterprises, Inc. will post 2.85 EPS for the current fiscal year.
Rush Enterprises declared that its board has approved a stock buyback plan on Thursday, November 30th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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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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