Wall Street Zen Downgrades Rush Enterprises (NASDAQ:RUSHA) to Hold

Rush Enterprises (NASDAQ:RUSHA) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also recently commented on RUSHA. Zacks Research cut shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 2nd. Stephens lifted their price target on shares of Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Finally, UBS Group reissued a “neutral” rating and issued a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a research note on Tuesday, August 25th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.00.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $50.95 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. Rush Enterprises has a 52 week low of $30.45 and a 52 week high of $55.74. The stock has a market capitalization of $5.95 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88. The stock has a fifty day moving average of $40.93 and a 200-day moving average of $34.40.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. On average, sell-side analysts expect that Rush Enterprises will post 1.66 earnings per share for the current fiscal year.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,725 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $36.13, for a total transaction of $170,730.00. Following the sale, the senior vice president directly owned 28,327 shares of the company’s stock, valued at $1,023,548.93. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven L. Keller sold 46,525 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $35.88, for a total transaction of $1,669,317.00. Following the completion of the transaction, the chief financial officer owned 189,841 shares of the company’s stock, valued at approximately $6,811,495.08. This trade represents a 19.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 252,561 shares of company stock valued at $9,092,298. 12.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in Rush Enterprises by 6,991.9% in the second quarter. California State Teachers Retirement System now owns 5,168,214 shares of the company’s stock valued at $377,228,000 after purchasing an additional 5,095,339 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Rush Enterprises by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock worth $203,618,000 after buying an additional 29,375 shares during the period. State Street Corp grew its position in shares of Rush Enterprises by 0.3% in the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after buying an additional 6,994 shares during the last quarter. Jennison Associates LLC increased its stake in shares of 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 buying an additional 700,511 shares during the period. Finally, Global Alpha Capital Management Ltd. raised its position in shares of Rush Enterprises by 20.6% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock worth $54,613,000 after acquiring an additional 173,096 shares during the last quarter. Institutional investors and hedge funds 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.