Rush Enterprises (NASDAQ:RUSHA) Rating Lowered to Strong Sell at Zacks Research

Rush Enterprises (NASDAQ:RUSHA) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. UBS Group reiterated a “neutral” rating and issued a $73.00 target price (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Stephens reiterated an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Finally, Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rush Enterprises presently has a consensus rating of “Hold” and an average price target of $76.50.

Rush Enterprises Price Performance

Shares of RUSHA opened at $73.74 on Tuesday. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $75.99. The business’s fifty day moving average is $68.68 and its 200 day moving average is $60.15. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a market cap of $5.67 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.46 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Sell-side analysts anticipate that Rush Enterprises will post 3.81 earnings per share for the current fiscal year.

Insider Activity

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $70.81, for a total transaction of $566,480.00. Following the transaction, the director directly owned 16,229 shares of the company’s stock, valued at $1,149,175.49. The trade was a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the transaction, the director directly owned 41,170 shares in the company, valued at $2,678,108.50. This represents a 19.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,750 shares of company stock valued at $2,349,450 over the last quarter. 12.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds have recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its holdings in Rush Enterprises by 11.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 9,323 shares of the company’s stock worth $616,000 after acquiring an additional 925 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Rush Enterprises during the 1st quarter worth $1,778,000. Ritholtz Wealth Management boosted its holdings in Rush Enterprises by 375.6% during the 1st quarter. Ritholtz Wealth Management now owns 25,850 shares of the company’s stock worth $1,709,000 after acquiring an additional 20,415 shares during the last quarter. Baker Ellis Asset Management LLC purchased a new position in Rush Enterprises during the 1st quarter worth $208,000. Finally, Evolve Private Wealth LLC boosted its holdings in Rush Enterprises by 6.2% during the 1st quarter. Evolve Private Wealth LLC now owns 11,525 shares of the company’s stock worth $762,000 after acquiring an additional 672 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises Company Profile

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.