Rush Enterprises (NASDAQ:RUSHA) Rating Lowered to Hold at Wall Street Zen

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

Several other research analysts have also recently issued reports on the company. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. 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. Finally, UBS Group reissued a “neutral” rating and set a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Rush Enterprises presently has a consensus rating of “Moderate Buy” and an average target price of $76.50.

Rush Enterprises Trading Down 0.2%

Shares of RUSHA opened at $66.08 on Friday. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $75.99. The company has a 50-day moving average of $67.58 and a 200 day moving average of $58.41.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion. On average, research analysts expect that Rush Enterprises will post 3.91 EPS for the current year.

Insider Activity

In related news, Director Raymond Joseph Chess sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total transaction of $650,500.00. Following the completion of the sale, the director owned 41,170 shares of the company’s stock, valued at $2,678,108.50. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 16,229 shares of the company’s stock, valued at approximately $1,149,175.49. This trade represents a 33.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 33,750 shares of company stock worth $2,349,450 in the last quarter. 12.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Rush Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in RUSHA. Farther Finance Advisors LLC grew its stake in Rush Enterprises by 250.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after buying an additional 365 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after buying an additional 431 shares during the last quarter. Private Trust Co. NA raised its stake 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 buying an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Rush Enterprises in the third quarter worth about $34,000. Finally, Allworth Financial LP boosted its holdings in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares in the last quarter. Hedge funds and other institutional investors 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.