BidaskClub Upgrades Rush Enterprises (NASDAQ:RUSHB) to “Buy”

BidaskClub upgraded shares of Rush Enterprises (NASDAQ:RUSHB) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

NASDAQ RUSHB opened at $41.89 on Friday. The firm’s fifty day moving average price is $39.02 and its two-hundred day moving average price is $39.44. The stock has a market cap of $1.44 billion, a PE ratio of 9.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.22 and a current ratio of 1.11. Rush Enterprises has a fifty-two week low of $32.35 and a fifty-two week high of $45.51.

Rush Enterprises (NASDAQ:RUSHB) last posted its earnings results on Wednesday, July 24th. The company reported $1.10 EPS for the quarter. Rush Enterprises had a return on equity of 15.38% and a net margin of 2.88%. The firm had revenue of $1.54 billion during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.13 dividend. This is a positive change from Rush Enterprises’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, August 8th.

Large investors have recently bought and sold shares of the company. Morgan Stanley boosted its position in shares of Rush Enterprises by 207.4% during the 2nd quarter. Morgan Stanley now owns 3,486 shares of the company’s stock valued at $129,000 after purchasing an additional 2,352 shares in the last quarter. BlackRock Inc. increased its holdings in Rush Enterprises by 3.9% in the second quarter. BlackRock Inc. now owns 272,601 shares of the company’s stock worth $10,062,000 after purchasing an additional 10,246 shares in the last quarter. Northern Trust Corp increased its holdings in Rush Enterprises by 3.4% in the second quarter. Northern Trust Corp now owns 51,164 shares of the company’s stock worth $1,888,000 after purchasing an additional 1,699 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Rush Enterprises by 2.7% in the second quarter. Renaissance Technologies LLC now owns 289,700 shares of the company’s stock valued at $10,693,000 after buying an additional 7,500 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Rush Enterprises by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 29,465 shares of the company’s stock valued at $1,087,000 after buying an additional 1,286 shares during the period. 10.23% of the stock is currently owned by 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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