Rush Enterprises (NASDAQ:RUSHA) Given Overweight Rating at Stephens

Rush Enterprises (NASDAQ:RUSHA)‘s stock had its “overweight” rating reissued by Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $85.00 price objective on the stock. Stephens’ price target would indicate a potential upside of 23.67% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. UBS Group lifted their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Zacks Research downgraded shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Wolfe Research started coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Rush Enterprises has a consensus rating of “Hold” and a consensus price target of $83.67.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $68.73 on Tuesday. The company’s fifty day moving average price is $68.78 and its 200-day moving average price is $62.64. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.46 and a beta of 0.93. Rush Enterprises has a one year low of $45.67 and a one year high of $76.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. On average, equities research analysts anticipate that Rush Enterprises will post 3.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total value of $650,500.00. Following the transaction, the director directly owned 41,170 shares of the company’s stock, valued at $2,678,108.50. The trade was a 19.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $71.86, for a total transaction of $323,370.00. Following the completion of the transaction, the senior vice president directly owned 12,590 shares in the company, valued at approximately $904,717.40. The trade was a 26.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,750 shares of company stock valued at $2,927,290 in the last three months. Corporate insiders own 12.68% of the company’s stock.

Institutional Trading of Rush Enterprises

Several large investors have recently added to or reduced their stakes in RUSHA. Jennison Associates LLC boosted its holdings in Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after acquiring an additional 700,511 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after acquiring an additional 607,047 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Rush Enterprises in the fourth quarter valued at $25,811,000. Millennium Management LLC boosted its holdings in Rush Enterprises by 280.4% in the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after acquiring an additional 398,721 shares in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in Rush Enterprises by 85.0% in the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after acquiring an additional 335,019 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.