Rush Enterprises (NASDAQ:RUSHA) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Rush Enterprises from “Buy” to “Hold,” while the broader analyst consensus remains “Hold” with an average price target of $46.00.
• Rush Enterprises reported quarterly earnings of $0.40 per share, exceeding the $0.38 consensus estimate, alongside revenue of $1.90 billion versus expectations of $1.89 billion.
• Insiders sold 252,561 shares worth approximately $9.1 million over the past 90 days, while institutional investors and hedge funds own 84.43% of the company.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. UBS Group reiterated a "neutral" rating and set a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Stephens increased their price objective on shares of Rush Enterprises from $40.00 to $42.22 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Finally, Zacks Research lowered shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $46.00.

Rush Enterprises Trading Up 1.7%

Shares of RUSHA opened at $50.95 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. Rush Enterprises has a 52-week low of $30.45 and a 52-week high of $55.74. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.52 and a beta of 0.88. The business's fifty day moving average is $40.93 and its 200-day moving average is $34.38.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Equities analysts anticipate that Rush Enterprises will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Rush Enterprises

In related news, CFO Steven Keller sold 46,525 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $35.88, for a total value of $1,669,317.00. Following the completion of the sale, the chief financial officer directly owned 189,841 shares in the company, valued at $6,811,495.08. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Goldstone sold 4,725 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.13, for a total value of $170,730.00. Following the transaction, the senior vice president directly owned 28,327 shares of the company's stock, valued at approximately $1,023,548.93. This represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 252,561 shares of company stock worth $9,092,298. Company insiders own 12.68% of the company's stock.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC increased its position in Rush Enterprises by 75.4% during 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 period. CIBC Private Wealth Group LLC lifted its position in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after purchasing an additional 431 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Rush Enterprises in the 3rd quarter worth approximately $34,000. Allworth Financial LP boosted its stake in shares of Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after purchasing an additional 637 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

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.

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