Zacks Research Upgrades Rush Enterprises (NASDAQ:RUSHA) to Strong-Buy

Rush Enterprises (NASDAQ:RUSHA) was upgraded by Zacks Research from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Several other equities research analysts have also recently commented on RUSHA. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 21st. Stephens reduced their price target on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. UBS Group restated a “neutral” rating and issued a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Finally, Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $50.26.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA opened at $44.27 on Monday. The company has a 50-day moving average price of $47.14 and a 200-day moving average price of $36.44. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The company has a current ratio of 1.44, a quick ratio of 0.37 and a debt-to-equity ratio of 0.15. Rush Enterprises has a 12 month low of $30.45 and a 12 month high of $55.74.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rush Enterprises had a return on equity of 11.91% and a net margin of 3.70%. As a group, equities analysts anticipate that Rush Enterprises will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Rush Enterprises

Several large investors have recently made changes to their positions in the business. Hohimer Wealth Management LLC raised its stake in Rush Enterprises by 53.6% during the third quarter. Hohimer Wealth Management LLC now owns 5,057 shares of the company’s stock valued at $232,000 after buying an additional 1,765 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Rush Enterprises by 57.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 14,668 shares of the company’s stock worth $672,000 after acquiring an additional 5,345 shares during the last quarter. Parallel Advisors LLC raised its holdings in Rush Enterprises by 144.0% in the 3rd quarter. Parallel Advisors LLC now owns 3,358 shares of the company’s stock worth $154,000 after acquiring an additional 1,982 shares during the last quarter. Kestra Advisory Services LLC lifted its position in Rush Enterprises by 68.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 30,086 shares of the company’s stock valued at $1,378,000 after acquiring an additional 12,192 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Rush Enterprises by 110.0% during the third quarter. Commonwealth Equity Services LLC now owns 14,491 shares of the company’s stock valued at $664,000 after purchasing an additional 7,591 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.