Wall Street Zen Downgrades Rush Enterprises (NASDAQ:RUSHA) to Hold

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 Friday.

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

Rush Enterprises Trading Up 1.5%

NASDAQ RUSHA traded up $0.75 during mid-day trading on Friday, reaching $51.74. 1,417,803 shares of the stock were exchanged, compared to its average volume of 396,702. The stock has a market cap of $4.03 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.44 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 0.32. Rush Enterprises has a one year low of $40.99 and a one year high of $65.43. The stock has a 50 day simple moving average of $50.33 and a 200-day simple moving average of $54.30.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping 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 company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.86 billion. On average, analysts anticipate that Rush Enterprises will post 3.91 EPS for the current year.

Insider Buying and Selling

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $52.10, for a total transaction of $234,450.00. Following the completion of the sale, the senior vice president now directly owns 12,510 shares of the company's stock, valued at approximately $651,771. The trade was a 26.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jason Wilder sold 748 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $56.08, for a total value of $41,947.84. Following the completion of the sale, the chief operating officer now directly owns 84,672 shares of the company's stock, 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 a total of 5,731 shares of company stock worth $303,634 in the last ninety days. Corporate insiders own 12.28% of the company's stock.

Institutional Investors Weigh In On Rush Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of RUSHA. Commonwealth Equity Services LLC lifted its position in shares of Rush Enterprises by 1.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,183 shares of the company's stock worth $613,000 after buying an additional 186 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Rush Enterprises by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,365 shares of the company's stock valued at $349,000 after acquiring an additional 202 shares during the last quarter. State of Wyoming increased its position in shares of Rush Enterprises by 5.0% during the first quarter. State of Wyoming now owns 4,511 shares of the company's stock valued at $241,000 after acquiring an additional 213 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Rush Enterprises by 82.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company's stock worth $26,000 after acquiring an additional 217 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Rush Enterprises by 26.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company's stock worth $58,000 after purchasing an additional 227 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

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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