Rush Enterprises (NASDAQ:RUSHA) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

A number of other research firms have also issued reports on RUSHA. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Wolfe Research assumed coverage on Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, June 18th. UBS Group lifted their target price on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Stephens reissued an “overweight” rating and issued a $85.00 price target on shares of Rush Enterprises in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Rush Enterprises Stock Performance

Rush Enterprises stock opened at $72.99 on Monday. Rush Enterprises has a fifty-two week low of $45.67 and a fifty-two week high of $76.99. The firm’s 50 day simple moving average is $70.72 and its 200-day simple moving average is $66.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The company has a market cap of $5.67 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. As a group, equities research analysts predict that Rush Enterprises will post 3.79 EPS for the current year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, May 12th. Rush Enterprises’s payout ratio is currently 22.96%.

Insider Activity at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director owned 16,229 shares in the company, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Root Financial Partners LLC lifted its stake in shares of Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Kestra Advisory Services LLC increased its position in Rush Enterprises by 1.1% during the fourth quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock worth $966,000 after buying an additional 200 shares during the last quarter. California State Teachers Retirement System raised its holdings in Rush Enterprises by 0.4% during the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after buying an additional 208 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Rush Enterprises by 44.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock valued at $40,000 after buying an additional 230 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Rush Enterprises by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock worth $1,897,000 after buying an additional 251 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

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.