Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $51.80.
Several equities research analysts recently weighed in on RUSHA shares. Seaport Global Securities reiterated a “buy” rating and set a $62.00 price objective on shares of Rush Enterprises in a research note on Wednesday, January 17th. ValuEngine upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Wednesday, February 7th. Buckingham Research upgraded shares of Rush Enterprises from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $51.00 price objective on shares of Rush Enterprises in a research note on Tuesday, January 23rd.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. acquired a new stake in shares of Rush Enterprises in the fourth quarter valued at approximately $30,953,000. Renaissance Technologies LLC increased its stake in shares of Rush Enterprises by 39.1% in the fourth 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. Fuller & Thaler Asset Management Inc. increased its stake in shares of Rush Enterprises by 222.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 146,500 shares of the company’s stock valued at $7,444,000 after purchasing an additional 101,100 shares during the period. Millennium Management LLC increased its stake in shares of Rush Enterprises by 17.8% in the fourth quarter. Millennium Management LLC now owns 640,634 shares of the company’s stock valued at $32,551,000 after purchasing an additional 96,875 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Rush Enterprises by 3.6% in the fourth quarter. BlackRock Inc. now owns 2,089,053 shares of the company’s stock valued at $106,146,000 after purchasing an additional 71,825 shares during the period. Hedge funds and other institutional investors own 78.75% of the company’s stock.
Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. Rush Enterprises had a net margin of 3.65% and a return on equity of 10.00%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. equities research analysts expect that Rush Enterprises will post 2.85 earnings per share for the current fiscal year.
Rush Enterprises announced that its board has authorized a stock repurchase program on Thursday, November 30th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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About Rush Enterprises
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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