Rush Enterprises (NASDAQ:RUSHA) Raised to "Buy" at Wall Street Zen

Key Points

• Rush Enterprises was upgraded by Wall Street Zen from “hold” to “buy”, adding to a mixed analyst picture that still leaves the stock with a consensus “hold” rating and an average price target of $83.67.
• The company reported better-than-expected earnings for the latest quarter, posting $0.77 EPS versus estimates of $0.72, though revenue of $1.68 billion came in slightly below expectations.
• Shares opened at $67.02, with the stock trading below both its 50-day and 52-week high; meanwhile, insiders sold shares recently and institutional investors continue to hold a large majority of the company.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also weighed in on RUSHA. Wolfe Research began coverage on Rush Enterprises in a report on Monday, April 27th. They set an "outperform" rating and a $88.00 target price on the stock. Zacks Research lowered Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 25th. UBS Group lifted their target price on Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Finally, Stephens reiterated an "overweight" rating and set a $85.00 target price on shares of Rush Enterprises in a report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rush Enterprises has a consensus rating of "Hold" and an average price target of $83.67.

Rush Enterprises Stock Performance

RUSHA stock opened at $67.02 on Friday. The business's fifty day moving average is $70.08 and its 200-day moving average is $64.52. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market cap of $5.21 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.40 and a beta of 0.88. Rush Enterprises has a twelve month low of $45.67 and a twelve month high of $76.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. Equities research analysts forecast that Rush Enterprises will post 3.79 EPS for the current year.

Insider Activity

In other Rush Enterprises news, Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the sale, the director owned 41,170 shares of the company's stock, valued at $2,678,108.50. This trade represents a 19.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. This represents a 33.02% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 12.68% of the company's stock.

Institutional Trading of Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the company. Root Financial Partners LLC raised its stake in shares of Rush Enterprises by 75.4% in 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. Kestra Advisory Services LLC raised its stake in shares of Rush Enterprises by 1.1% in the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company's stock valued at $966,000 after purchasing an additional 200 shares during the period. California State Teachers Retirement System raised its stake in shares of Rush Enterprises by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company's stock valued at $2,955,000 after purchasing an additional 208 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Rush Enterprises by 44.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company's stock valued at $40,000 after purchasing an additional 230 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Rush Enterprises by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company's stock valued at $1,897,000 after purchasing an additional 251 shares during the period. Institutional investors and hedge funds own 84.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.