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

Key Points

• Wall Street Zen upgraded Rush Enterprises from “hold” to “buy,” contributing to a consensus “Moderate Buy” rating and an average price target of $58.00.
• Rush Enterprises exceeded quarterly expectations, reporting $0.61 in EPS versus the $0.57 consensus and $1.90 billion in revenue versus the $1.89 billion estimate. The company also announced a 3-for-2 stock split effective September 1.
• Company insiders sold 168,375 shares worth approximately $9.1 million in the last quarter, while institutional investors collectively own 84.43% of outstanding shares.

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 report issued on Saturday.

A number of other equities analysts have also recently commented on the company. Stephens boosted their price target on Rush Enterprises from $60.00 to $63.33 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Weiss Ratings raised Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. UBS Group lifted their target price on Rush Enterprises from $48.67 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Wolfe Research began coverage on Rush Enterprises in a research note on Monday, April 27th. They set an "outperform" rating and a $58.67 target price for the company. Finally, Zacks Research raised shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $82.23 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. The company has a market cap of $6.39 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. The company has a 50 day moving average of $52.25 and a 200-day moving average of $48.26. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $83.61.

Rush Enterprises's stock is scheduled to split before the market opens on Tuesday, September 1st. The 3-2 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. As a group, equities research analysts forecast that Rush Enterprises will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rush Enterprises news, CFO Steven L. Keller sold 31,017 shares of Rush Enterprises stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $53.82, for a total transaction of $1,669,334.94. Following the transaction, the chief financial officer directly owned 126,561 shares of the company's stock, valued at approximately $6,811,513.02. The trade was a 19.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William M. Rusty Rush sold 107,361 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $54.03, for a total value of $5,801,072.70. Following the completion of the sale, the chief executive officer owned 261,231 shares in the company, valued at $14,115,181.70. This trade represents a 29.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 168,375 shares of company stock valued at $9,092,352 in the last quarter. 12.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RUSHA. Root Financial Partners LLC boosted 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 last quarter. CIBC Private Wealth Group LLC raised its stake in Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after buying an additional 431 shares during the last quarter. Private Trust Co. NA lifted its holdings in Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after buying an additional 370 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Rush Enterprises in the third quarter valued at $34,000. Finally, Allworth Financial LP boosted its position in Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after acquiring an additional 637 shares during the last quarter. Institutional investors own 84.43% of the company's stock.

About Rush Enterprises

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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