Rush Enterprises (NASDAQ:RUSHA) Price Target Cut to $55.00 by Analysts at Stephens

Key Points

• Stephens lowered Rush Enterprises’ price target to $55 from $60 while maintaining an “overweight” rating, implying about 30.9% upside from the prior close.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $50.26, with ratings ranging from Buy to Sell.
• Rush Enterprises shares fell 7.6% to open at $42.00, despite the company slightly beating quarterly earnings expectations with $0.65 EPS and $2.11 billion in revenue.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) had its price target lowered by analysts at Stephens from $60.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Stephens's target price would indicate a potential upside of 30.94% from the stock's previous close.

Several other equities research analysts have also recently commented on RUSHA. UBS Group reissued a "neutral" rating and issued a $56.67 target price (up from $52.00) on shares of Rush Enterprises in a research note on Tuesday, August 25th. Zacks Research lowered shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 2nd. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, October 11th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. Three equities research 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 currently has a consensus rating of "Hold" and a consensus price target of $50.26.

Rush Enterprises Trading Down 7.6%

Shares of Rush Enterprises stock opened at $42.00 on Thursday. The firm has a market capitalization of $4.90 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The company's fifty day moving average price is $47.80 and its two-hundred day moving average price is $36.08. Rush Enterprises has a 52-week low of $30.45 and a 52-week high of $55.74.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.01. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.05 billion. On average, analysts expect that Rush Enterprises will post 2.43 EPS for the current year.

Insider Activity

In related news, SVP Michael L. Goldstone sold 4,725 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.13, for a total value of $170,730.00. Following the completion of the sale, the senior vice president owned 28,327 shares in the company, valued at $1,023,548.93. This represents a 14.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael McRoberts sold 14,625 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.20, for a total value of $529,360.00. Following the sale, the director directly owned 36,514 shares in the company, valued at $1,321,644.52. The trade was a 28.60% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 243,062 shares of company stock valued at $8,749,995. 12.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUSHA. Integrated Wealth Concepts LLC bought a new stake in Rush Enterprises during the 2nd quarter worth approximately $25,000. Root Financial Partners LLC boosted its stake in Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the period. Lazard Asset Management LLC bought a new position in shares of Rush Enterprises during the first quarter worth about $67,000. USA Financial Formulas acquired a new stake in shares of Rush Enterprises in the third quarter valued at approximately $55,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its position in Rush Enterprises by 62.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,207 shares of the company's stock worth $55,000 after buying an additional 463 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.

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