Rush Enterprises (NASDAQ:RUSHA) Rating Lowered to Hold at Wall Street Zen

Key Points

• Rush Enterprises has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, while some brokerages continue to hold a "buy" rating, indicating mixed sentiment among analysts.
• The company's stock price opened at $51.70 and has seen fluctuations, with a 12-month high of $65.43 and a low of $47.06.
• Insider selling has occurred recently, with significant share sales by Director Michael Mcroberts and COO Jason Wilder, reflecting a decrease in their ownership stakes.

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

Several other brokerages have also recently weighed in on RUSHA. Weiss Ratings reissued a "buy (b-)" rating on shares of Rush Enterprises in a research note on Saturday, September 27th. Stephens reissued an "overweight" rating on shares of Rush Enterprises in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $61.00.

Rush Enterprises Trading Down 2.8%

Shares of RUSHA stock opened at $51.70 on Friday. The stock's 50-day moving average price is $56.33 and its 200-day moving average price is $53.27. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. Rush Enterprises has a 12-month low of $47.06 and a 12-month high of $65.43. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.50 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. Rush Enterprises had a return on equity of 13.29% and a net margin of 3.73%.The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. Equities research analysts predict that Rush Enterprises will post 3.91 EPS for the current fiscal year.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 6,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.64, for a total transaction of $327,840.00. Following the completion of the sale, the director owned 15,771 shares in the company, valued at $861,727.44. This represents a 27.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jason Wilder sold 4,980 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the sale, the chief operating officer owned 79,692 shares of the company's stock, valued at approximately $4,426,890.60. This represents a 5.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,480 shares of company stock worth $862,104. Company insiders own 12.28% of the company's stock.

Institutional Trading of Rush Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Rush Enterprises by 0.3% during the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company's stock valued at $121,524,000 after purchasing an additional 6,994 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Rush Enterprises by 1.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,218,650 shares of the company's stock valued at $118,499,000 after purchasing an additional 41,407 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Rush Enterprises by 6.5% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock valued at $69,552,000 after purchasing an additional 79,499 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Rush Enterprises by 4.6% during the 2nd quarter. Jennison Associates LLC now owns 923,847 shares of the company's stock valued at $47,587,000 after purchasing an additional 40,936 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Rush Enterprises by 12.0% during the 1st quarter. Northern Trust Corp now owns 879,554 shares of the company's stock valued at $46,977,000 after purchasing an additional 94,271 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company's stock.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.

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