Rush Enterprises (NASDAQ:RUSHA) Given New $95.00 Price Target at Stephens

Key Points

• Stephens raised its price target for Rush Enterprises from $90 to $95 and maintained an “overweight” rating, implying 16.39% potential upside from the reported $81.62 share price.
• Analyst sentiment is generally positive: Rush Enterprises has a consensus “Moderate Buy” rating and an average price target of $87, based on three Buy ratings and two Hold ratings.
• The company exceeded quarterly expectations, reporting $0.91 in EPS versus the $0.86 consensus and $1.90 billion in revenue versus $1.89 billion expected. A 3-for-2 stock split is scheduled to take effect after the August 10 close.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) had its price target raised by investment analysts at Stephens from $90.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Stephens' price target would indicate a potential upside of 16.39% from the company's current price.

Several other analysts have also commented on the stock. UBS Group increased their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Wolfe Research started coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an "outperform" rating and a $88.00 price objective for the company. Zacks Research raised shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Wall Street Zen lowered Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, June 14th. Finally, Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.00.

Rush Enterprises Price Performance

NASDAQ RUSHA opened at $81.62 on Thursday. The company has a market cap of $6.34 billion, a PE ratio of 24.58, a P/E/G ratio of 1.74 and a beta of 0.89. The firm's 50 day moving average price is $72.14 and its 200-day moving average price is $69.67. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $83.50.

Shares of Rush Enterprises are going to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a return on equity of 11.78% and a net margin of 3.67%. Sell-side analysts forecast that Rush Enterprises will post 3.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Rush Enterprises

Large investors have recently made changes to their positions in the stock. Root Financial Partners LLC raised 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 acquiring an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock valued at $28,000 after purchasing an additional 431 shares during the last quarter. Private Trust Co. NA grew its stake in Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Rush Enterprises in the third quarter valued at about $34,000. Finally, Allworth Financial LP raised its stake in shares of Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $35,000 after purchasing an additional 637 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

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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