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

Wall Street Zen lowered shares of Rush Enterprises (NASDAQ:RUSHA) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

Other analysts have also issued reports about the stock. UBS Group reiterated a “neutral” rating and issued a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 21st. Stephens cut 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 Thursday, October 29th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $50.26.

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $44.69 on Friday. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.62 and a beta of 0.89. Rush Enterprises has a 52 week low of $30.94 and a 52 week high of $55.74. The company’s 50-day moving average price is $46.53 and its 200 day moving average price is $36.86. The company has a current ratio of 1.44, a quick ratio of 0.37 and a debt-to-equity ratio of 0.15.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, October 27th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.05 billion. Rush Enterprises had a net margin of 3.70% and a return on equity of 11.91%. As a group, research analysts forecast that Rush Enterprises will post 2.43 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 11th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. Rush Enterprises’s payout ratio is 24.24%.

Hedge Funds Weigh In On Rush Enterprises

Institutional investors have recently modified their holdings of the company. Muhlenkamp & Co. Inc. purchased a new stake in Rush Enterprises in the 3rd quarter worth approximately $22,893,000. Voya Investment Management LLC raised its holdings in Rush Enterprises by 4,561.0% in the 3rd quarter. Voya Investment Management LLC now owns 564,582 shares of the company’s stock valued at $25,864,000 after acquiring an additional 552,469 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Rush Enterprises by 74.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 365,998 shares of the company’s stock valued at $16,254,000 after acquiring an additional 156,482 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Rush Enterprises by 2,468.0% during the 3rd quarter. Global Retirement Partners LLC now owns 2,568 shares of the company’s stock worth $118,000 after purchasing an additional 2,468 shares during the period. Finally, Bridges Investment Management Inc. lifted its stake in shares of Rush Enterprises by 52.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 81,836 shares of the company’s stock worth $3,749,000 after purchasing an additional 28,110 shares during the period. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc. operates Rush Truck Centers, a network of commercial vehicle dealerships serving customers in the United States and Canada. The company sells new and used heavy-, medium- and light-duty trucks, representing manufacturers such as Peterbilt and other commercial vehicle brands. Its services include truck parts and repairs, collision and body work, leasing and rentals, and related financing and insurance products. Rush also provides aftermarket support designed to help commercial fleets and individual truck operators maintain and manage their vehicles.