Zacks Investment Research upgraded shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) from a hold rating to a strong-buy rating in a report published on Saturday morning. Zacks Investment Research currently has $47.00 target price on the stock.
According to Zacks, “Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Their current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services. “
A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus reiterated a hold rating and issued a $38.00 price objective on shares of Rush Enterprises in a report on Friday, July 28th. BidaskClub cut Rush Enterprises from a buy rating to a hold rating in a report on Wednesday, July 19th. BMO Capital Markets reiterated a hold rating and issued a $30.00 price objective on shares of Rush Enterprises in a report on Friday, July 7th. TheStreet upgraded Rush Enterprises from a c+ rating to a b- rating in a report on Tuesday, April 25th. Finally, Seaport Global Securities assumed coverage on Rush Enterprises in a report on Thursday, April 6th. They issued a buy rating and a $42.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $42.25.
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Shares of Rush Enterprises (RUSHA) opened at 42.69 on Friday. Rush Enterprises has a 52 week low of $21.99 and a 52 week high of $43.55. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 26.95 and a beta of 1.16. The stock’s 50 day moving average price is $37.60 and its 200-day moving average price is $35.41.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. Rush Enterprises had a return on equity of 7.37% and a net margin of 1.46%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Equities analysts predict that Rush Enterprises will post $1.69 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its stake in shares of Rush Enterprises by 153.1% in the first quarter. Ameritas Investment Partners Inc. now owns 3,796 shares of the company’s stock valued at $125,000 after buying an additional 2,296 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Rush Enterprises by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,527 shares of the company’s stock valued at $177,000 after buying an additional 115 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Rush Enterprises during the second quarter valued at $243,000. Nine Chapters Capital Management LLC bought a new stake in shares of Rush Enterprises during the first quarter valued at $281,000. Finally, Koch Industries Inc. bought a new stake in shares of Rush Enterprises during the first quarter valued at $294,000. Institutional investors own 76.75% of the company’s stock.
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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