Rush Enterprises (NASDAQ:RUSHA) Coverage Initiated at UBS Group

Stock analysts at UBS Group started coverage on shares of Rush Enterprises (NASDAQ:RUSHA) in a report issued on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $70.00 price target on the stock. UBS Group’s target price points to a potential upside of 10.60% from the stock’s current price.

Several other equities analysts have also recently commented on RUSHA. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Stephens decreased their target price on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research note on Thursday, January 22nd. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $63.29 on Wednesday. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 0.34. The business has a 50-day moving average of $57.05 and a 200 day moving average of $54.74. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $66.11.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.75 billion. As a group, sell-side analysts forecast that Rush Enterprises will post 3.91 earnings per share for the current year.

Institutional Investors Weigh In On Rush Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in Rush Enterprises by 540.0% in the second quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock valued at $43,604,000 after purchasing an additional 714,253 shares in the last quarter. Millennium Management LLC lifted its position in shares of Rush Enterprises by 280.4% during the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after buying an additional 398,721 shares during the last quarter. Rivulet Capital LLC acquired a new position in shares of Rush Enterprises in the 2nd quarter valued at $19,286,000. Ameriprise Financial Inc. grew its position in shares of Rush Enterprises by 91.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock valued at $32,392,000 after buying an additional 301,119 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Rush Enterprises by 303.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company’s stock worth $18,179,000 after acquiring an additional 265,432 shares in 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.