Stephens Lowers Rush Enterprises (NASDAQ:RUSHA) Price Target to $55.00

Rush Enterprises (NASDAQ:RUSHA) had its price target lowered by equities researchers at Stephens from $60.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Stephens’ price target suggests a potential upside of 16.35% from the stock’s previous close.

RUSHA has been the topic of a number of other reports. Zacks Research downgraded Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.00.

Rush Enterprises Stock Performance

Shares of RUSHA opened at $47.27 on Wednesday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.44 and a beta of 0.91. The company’s fifty day moving average is $53.35 and its 200-day moving average is $52.78. The company has a quick ratio of 0.32, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Thursday, May 20th. The company reported $0.79 earnings per share (EPS) for the quarter. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.61%. The firm had revenue of $1.23 billion during the quarter. Equities analysts expect that Rush Enterprises will post 3.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Jason Wilder sold 4,980 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total transaction of $276,639.00. Following the completion of the transaction, the chief operating officer directly owned 79,692 shares in the company, valued at $4,426,890.60. This represents a 5.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the completion of the sale, the senior vice president directly owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUSHA. Caitong International Asset Management Co. Ltd grew its holdings in shares of Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after purchasing an additional 217 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Rush Enterprises by 250.0% in the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after purchasing an additional 365 shares during the period. AlphaQuest LLC acquired a new stake in Rush Enterprises during the first quarter worth $30,000. EverSource Wealth Advisors LLC boosted its stake in Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after buying an additional 633 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Rush Enterprises by 122.1% in the 3rd quarter. Federated Hermes Inc. now owns 793 shares of the company’s stock valued at $42,000 after buying an additional 436 shares during the period. 84.43% of the stock is currently owned by institutional investors.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.