Zacks Investment Research upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $50.00 price objective on the stock.
According to Zacks, “Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Their current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services. “
Several other equities analysts have also recently commented on RUSHA. Buckingham Research upgraded shares of Rush Enterprises from a neutral rating to a buy rating and set a $53.00 price target on the stock in a report on Tuesday, February 27th. BidaskClub upgraded shares of Rush Enterprises from a sell rating to a hold rating in a report on Saturday, April 21st. Stifel Nicolaus upgraded shares of Rush Enterprises from a hold rating to a buy rating and upped their price objective for the stock from $45.00 to $50.00 in a report on Wednesday, April 25th. Credit Suisse Group decreased their price objective on shares of Rush Enterprises from $49.00 to $45.00 and set a neutral rating for the company in a report on Wednesday, April 25th. Finally, Longbow Research upgraded shares of Rush Enterprises from a neutral rating to a buy rating and set a $55.00 price objective for the company in a report on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $51.43.
Rush Enterprises stock opened at $43.38 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 1.16. Rush Enterprises has a 12 month low of $36.53 and a 12 month high of $55.40. The firm has a market cap of $1.73 billion, a PE ratio of 16.75, a P/E/G ratio of 0.93 and a beta of 1.28.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Monday, April 23rd. The company reported $0.51 EPS for the quarter, beating the 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 business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.20 billion. equities analysts expect that Rush Enterprises will post 3.11 earnings per share for the current fiscal year.
Rush Enterprises announced that its Board of Directors has initiated a share buyback program on Wednesday, March 14th that allows the company to repurchase $35.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
A number of institutional investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. lifted its position in Rush Enterprises by 19.8% during the 1st quarter. Brown Advisory Inc. now owns 13,066 shares of the company’s stock worth $556,000 after acquiring an additional 2,161 shares during the last quarter. Redwood Investments LLC lifted its position in Rush Enterprises by 18.7% during the 1st quarter. Redwood Investments LLC now owns 494,600 shares of the company’s stock worth $21,016,000 after acquiring an additional 77,774 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Rush Enterprises by 302.6% during the 1st quarter. Allianz Asset Management GmbH now owns 134,572 shares of the company’s stock worth $5,718,000 after acquiring an additional 101,146 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Rush Enterprises during the 1st quarter worth $293,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Rush Enterprises during the 1st quarter worth $215,000. 76.61% of the stock is owned by hedge funds and other institutional investors.
Rush Enterprises Company Profile
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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