Rush Enterprises (NASDAQ:RUSHA) Stock Rating Lowered by Wall Street Zen

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

Separately, Stephens cut their price objective on Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd.

Rush Enterprises Trading Down 0.7%

Shares of RUSHA opened at $53.69 on Friday. The stock's fifty day simple moving average is $50.90 and its 200-day simple moving average is $54.03. The firm has a market capitalization of $4.18 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.51 and a beta of 0.88. Rush Enterprises has a 12-month low of $45.68 and a 12-month high of $65.43. The company has a quick ratio of 0.32, a current ratio of 1.44 and a debt-to-equity ratio of 0.22.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.86 billion. As a group, research analysts predict that Rush Enterprises will post 3.91 earnings per share for the current year.

Insider Activity at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $52.10, for a total value of $234,450.00. Following the completion of the transaction, the senior vice president owned 12,510 shares of the company's stock, valued at $651,771. The trade was a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jason Wilder sold 748 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $56.08, for a total value of $41,947.84. Following the sale, the chief operating officer owned 84,672 shares in the company, valued at approximately $4,748,405.76. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,731 shares of company stock worth $303,634 over the last ninety days. Insiders own 12.28% of the company's stock.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of RUSHA. T. Rowe Price Investment Management Inc. raised its position 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 buying an additional 41,407 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Rush Enterprises by 6.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,302,218 shares of the company's stock worth $69,552,000 after purchasing an additional 79,499 shares during the last quarter. Beck Mack & Oliver LLC raised its holdings in Rush Enterprises by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,567 shares of the company's stock valued at $58,821,000 after buying an additional 5,823 shares during the last quarter. Jennison Associates LLC grew its holdings in Rush Enterprises by 73.3% in the 1st quarter. Jennison Associates LLC now owns 882,911 shares of the company's stock worth $47,156,000 after acquiring an additional 373,531 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Rush Enterprises by 12.0% in the first quarter. Northern Trust Corp now owns 879,554 shares of the company's stock valued at $46,977,000 after acquiring an additional 94,271 shares during the period. 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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