Rush Enterprises Inc. (NASDAQ:RUSHA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Their current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services. “
A number of other research analysts have also commented on RUSHA. BMO Capital Markets reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Rush Enterprises in a report on Friday, September 16th. Stephens lowered Rush Enterprises from an “overweight” rating to an “equal weight” rating in a report on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.67.
Shares of Rush Enterprises (NASDAQ:RUSHA) traded up 1.67% on Wednesday, reaching $25.55. The company had a trading volume of 111,583 shares. The company’s 50-day moving average price is $23.63 and its 200-day moving average price is $21.36. Rush Enterprises has a 52-week low of $14.19 and a 52-week high of $27.45. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 24.54 and a beta of 1.53.
Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, July 26th. The company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.10 billion. Rush Enterprises had a return on equity of 6.16% and a net margin of 0.94%. On average, analysts predict that Rush Enterprises will post $1.05 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Menta Capital LLC increased its stake in shares of Rush Enterprises by 0.9% in the second quarter. Menta Capital LLC now owns 27,420 shares of the company’s stock valued at $591,000 after buying an additional 234 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Rush Enterprises by 2.7% in the second quarter. Gamco Investors INC. ET AL now owns 18,800 shares of the company’s stock valued at $405,000 after buying an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Rush Enterprises by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 230,002 shares of the company’s stock valued at $4,957,000 after buying an additional 665 shares in the last quarter. Swiss National Bank increased its stake in shares of Rush Enterprises by 2.1% in the second quarter. Swiss National Bank now owns 49,300 shares of the company’s stock valued at $1,062,000 after buying an additional 1,000 shares in the last quarter. Finally, Zebra Capital Management LLC increased its stake in shares of Rush Enterprises by 6.4% in the first quarter. Zebra Capital Management LLC now owns 39,834 shares of the company’s stock valued at $727,000 after buying an additional 2,381 shares in the last quarter. Institutional investors and hedge funds own 78.52% of the company’s stock.
Rush Enterprises Company Profile
Rush Enterprises, Inc is a retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. The Company, through its Rush Truck Centers, offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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