BidaskClub upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a sell rating to a hold rating in a report released on Saturday morning.
A number of other brokerages have also recently issued reports on RUSHA. ValuEngine raised shares of Rush Enterprises from a hold rating to a buy rating in a report on Friday, February 2nd. Stephens raised shares of Rush Enterprises from an equal weight rating to an overweight rating in a report on Friday, February 9th. Stifel Nicolaus reaffirmed a hold rating and issued a $45.00 target price (down from $49.00) on shares of Rush Enterprises in a report on Tuesday, February 20th. Zacks Investment Research raised shares of Rush Enterprises from a hold rating to a strong-buy rating and set a $47.00 target price on the stock in a report on Wednesday, May 2nd. Finally, BMO Capital Markets dropped their target price on shares of Rush Enterprises from $50.00 to $45.00 and set a market perform rating on the stock in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Rush Enterprises currently has a consensus rating of Buy and an average target price of $50.33.
Rush Enterprises stock opened at $44.13 on Friday. Rush Enterprises has a one year low of $34.30 and a one year high of $55.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.16 and a quick ratio of 0.30. The stock has a market cap of $1.77 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.99 and a beta of 1.30.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Monday, April 23rd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. Rush Enterprises had a net margin of 3.64% and a return on equity of 11.09%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.20 billion. sell-side analysts expect that Rush Enterprises will post 3.01 earnings per share for the current fiscal year.
Rush Enterprises declared that its board has authorized a stock buyback plan on Wednesday, March 14th that authorizes the company to repurchase $35.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new position in shares of Rush Enterprises during the 4th quarter worth approximately $209,000. Xact Kapitalforvaltning AB acquired a new position in shares of Rush Enterprises during the 1st quarter worth approximately $215,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Rush Enterprises during the 1st quarter worth approximately $230,000. SG Americas Securities LLC acquired a new position in shares of Rush Enterprises during the 1st quarter worth approximately $242,000. Finally, Cambria Investment Management L.P. acquired a new position in shares of Rush Enterprises during the 1st quarter worth approximately $250,000. 77.40% of the stock is currently owned by hedge funds and other institutional investors.
About Rush Enterprises
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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