Shares of Rush Enterprises (NASDAQ:RUSHA) have received a consensus rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $51.00.
Several research analysts have weighed in on the company. BidaskClub cut Rush Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, June 5th. Zacks Investment Research raised Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, May 2nd. Longbow Research raised Rush Enterprises from a “neutral” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, June 1st. Credit Suisse Group cut their price objective on Rush Enterprises from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 25th. Finally, Stifel Nicolaus raised Rush Enterprises from a “hold” rating to a “buy” rating and upped their price target for the company from $45.00 to $50.00 in a research report on Wednesday, April 25th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Scopus Asset Management L.P. bought a new stake in shares of Rush Enterprises during the 1st quarter valued at $47,082,000. Cooke & Bieler LP bought a new stake in shares of Rush Enterprises during the 1st quarter valued at $11,905,000. BlackRock Inc. raised its stake in shares of Rush Enterprises by 11.5% during the 1st quarter. BlackRock Inc. now owns 2,329,519 shares of the company’s stock valued at $98,982,000 after purchasing an additional 240,466 shares during the period. Renaissance Technologies LLC raised its stake in shares of Rush Enterprises by 39.1% during the 4th quarter. Renaissance Technologies LLC now owns 731,078 shares of the company’s stock valued at $37,146,000 after purchasing an additional 205,400 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Rush Enterprises by 3,564.6% during the 1st quarter. Victory Capital Management Inc. now owns 182,056 shares of the company’s stock valued at $7,735,000 after purchasing an additional 177,088 shares during the period. 76.55% of the stock is currently owned by hedge funds and other institutional investors.
Rush Enterprises traded down $0.85, hitting $44.74, during midday trading on Monday, Marketbeat Ratings reports. The company’s stock had a trading volume of 160,201 shares, compared to its average volume of 260,258. The company has a current ratio of 1.16, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. Rush Enterprises has a 1 year low of $35.32 and a 1 year high of $55.40. The stock has a market cap of $1.82 billion, a P/E ratio of 19.54, a P/E/G ratio of 0.98 and a beta of 1.28.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Monday, April 23rd. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Rush Enterprises had a return on equity of 11.09% and a net margin of 3.64%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.20 billion. analysts forecast that Rush Enterprises will post 3.11 earnings per share for the current fiscal year.
Rush Enterprises declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 14th that permits the company to buyback $35.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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