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

Rush Enterprises (NASDAQ:RUSHA) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on RUSHA. Stephens decreased their price objective on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research note on Thursday, January 22nd. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, UBS Group started coverage on shares of Rush Enterprises in a research note on Wednesday. They issued a “neutral” rating and a $70.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rush Enterprises has a consensus rating of “Moderate Buy” and an average price target of $62.50.

Rush Enterprises Stock Up 1.4%

Shares of NASDAQ:RUSHA opened at $64.19 on Friday. The firm has a 50 day simple moving average of $57.32 and a 200-day simple moving average of $54.81. Rush Enterprises has a twelve month low of $45.67 and a twelve month high of $66.11. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.95 billion, a PE ratio of 19.05, a P/E/G ratio of 0.78 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, October 29th. The company reported $0.83 EPS for the quarter, beating 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 firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.75 billion. On average, equities analysts predict that Rush Enterprises will post 3.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Rush Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of RUSHA. Farther Finance Advisors LLC increased its stake in Rush Enterprises by 250.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after purchasing an additional 365 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares in the last quarter. Private Trust Co. NA grew its holdings in Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Rush Enterprises in the third quarter valued at $34,000. Finally, Allworth Financial LP raised its stake in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after buying an additional 637 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

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.