Wells Fargo & Company MN raised its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 25.5% during the 4th quarter, Holdings Channel reports. The firm owned 65,095 shares of the company’s stock after acquiring an additional 13,211 shares during the period. Wells Fargo & Company MN’s holdings in Rush Enterprises were worth $3,307,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in RUSHA. Dimensional Fund Advisors LP boosted its stake in shares of Rush Enterprises by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,618,857 shares of the company’s stock valued at $121,227,000 after buying an additional 48,762 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Rush Enterprises in the fourth quarter valued at approximately $30,953,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Rush Enterprises by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 308,763 shares of the company’s stock valued at $15,689,000 after buying an additional 10,315 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Rush Enterprises by 16.4% in the third quarter. Bank of New York Mellon Corp now owns 216,286 shares of the company’s stock valued at $10,012,000 after buying an additional 30,429 shares in the last quarter. Finally, Granahan Investment Management Inc. MA boosted its stake in shares of Rush Enterprises by 1.8% in the third quarter. Granahan Investment Management Inc. MA now owns 206,724 shares of the company’s stock valued at $9,569,000 after buying an additional 3,748 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.
RUSHA has been the topic of a number of analyst reports. ValuEngine downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Stephens upgraded Rush Enterprises from an “equal weight” rating to an “overweight” rating in a research note on Friday, February 9th. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 target price (down from $49.00) on shares of Rush Enterprises in a research report on Tuesday, February 20th. Zacks Investment Research downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $62.00 target price on shares of Rush Enterprises in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Rush Enterprises currently has a consensus rating of “Hold” and an average price target of $51.80.
RUSHA opened at $38.65 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1,640.32, a price-to-earnings ratio of 16.88, a PEG ratio of 0.96 and a beta of 1.28. Rush Enterprises, Inc. has a one year low of $33.13 and a one year high of $55.40.
Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, February 14th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Rush Enterprises had a return on equity of 10.00% and a net margin of 3.65%. equities analysts anticipate that Rush Enterprises, Inc. will post 2.85 earnings per share for the current year.
Rush Enterprises declared that its board has authorized a share buyback program on Wednesday, March 14th that authorizes the company to repurchase $35.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Rush Enterprises 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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