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

Key Points

• Rush Enterprises (NASDAQ:RUSHA) received an upgrade from a "hold" to a "buy" rating from analysts at Wall Street Zen.
• The company's stock has an average rating of "buy" with an average price target of $61.00, while it currently trades at $56.30.
• Rush Enterprises recently reported better-than-expected earnings with a net margin of 3.73% and revenue of $1.93 billion for the quarter.

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

Separately, Stephens reaffirmed an "overweight" rating on shares of Rush Enterprises in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Rush Enterprises presently has an average rating of "Buy" and an average price target of $61.00.

Rush Enterprises Stock Performance

RUSHA stock traded down $1.08 during midday trading on Friday, reaching $56.30. 330,284 shares of the company's stock traded hands, compared to its average volume of 329,795. Rush Enterprises has a 52-week low of $47.06 and a 52-week high of $65.43. The stock has a market cap of $4.38 billion, a P/E ratio of 16.04, a PEG ratio of 1.62 and a beta of 0.88. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The stock's 50-day moving average is $56.36 and its 200 day moving average is $53.28.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. As a group, analysts anticipate that Rush Enterprises will post 3.91 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Michael L. Goldstone sold 4,500 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the completion of the transaction, the senior vice president owned 12,510 shares in the company, valued at approximately $716,197.50. This represents a 26.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director owned 15,771 shares of the company's stock, valued at approximately $861,727.44. This represents a 27.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,480 shares of company stock worth $862,104 over the last three months. 12.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of RUSHA. Texas Permanent School Fund Corp raised its stake in Rush Enterprises by 23.3% during the second quarter. Texas Permanent School Fund Corp now owns 41,252 shares of the company's stock valued at $2,125,000 after purchasing an additional 7,793 shares in the last quarter. Squarepoint Ops LLC raised its stake in Rush Enterprises by 45.7% during the second quarter. Squarepoint Ops LLC now owns 78,985 shares of the company's stock valued at $4,069,000 after purchasing an additional 24,768 shares in the last quarter. State of Wyoming raised its stake in Rush Enterprises by 117.2% during the second quarter. State of Wyoming now owns 9,799 shares of the company's stock valued at $505,000 after purchasing an additional 5,288 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Rush Enterprises by 5.6% during the second quarter. Public Sector Pension Investment Board now owns 208,647 shares of the company's stock valued at $10,747,000 after purchasing an additional 10,990 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Rush Enterprises by 0.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 87,139 shares of the company's stock valued at $4,489,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 84.43% of the company's stock.

Rush Enterprises Company Profile

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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