Wolfe Research Upgrades Rush Enterprises (NASDAQ:RUSHA) to "Strong-Buy"

Key Points

• Wolfe Research upgraded Rush Enterprises (NASDAQ:RUSHA) to a "Strong-Buy"; analyst coverage is mixed (1 Strong Buy, 2 Buy, 1 Hold, 1 Sell) with a consensus rating of Moderate Buy and an average price target of $80.33.
• Rush beat Q4 estimates with EPS of $0.81 versus $0.69 expected and revenue of $1.77B versus $1.72B, trades at a P/E of 23.3 and has a market capitalization of about $5.86 billion.
• Insiders sold 33,750 shares (~$2.35M) in the last 90 days—reducing individual holdings significantly—though insiders still own 12.68% and institutional ownership is high at 84.43%.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) was upgraded by investment analysts at Wolfe Research to a "strong-buy" rating in a research report issued to clients and investors on Monday, MarketBeat.com reports.

Other equities research analysts have also issued research reports about the company. UBS Group reaffirmed a "neutral" rating and set a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Weiss Ratings raised Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 25th. Stephens reaffirmed an "overweight" rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research note on Thursday, February 19th. Zacks Research cut shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rush Enterprises currently has a consensus rating of "Moderate Buy" and an average price target of $80.33.

Rush Enterprises Price Performance

Shares of NASDAQ:RUSHA opened at $76.20 on Monday. The company's fifty day moving average price is $68.89 and its 200-day moving average price is $60.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.48 and a beta of 0.89. Rush Enterprises has a one year low of $45.67 and a one year high of $76.99.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. On average, equities research analysts anticipate that Rush Enterprises will post 3.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Raymond Joseph Chess sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the completion of the sale, the director owned 41,170 shares of the company's stock, valued at approximately $2,678,108.50. The trade was a 19.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jody Pollard sold 11,250 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $71.92, for a total value of $809,100.00. Following the transaction, the senior vice president owned 3,385 shares in the company, valued at approximately $243,449.20. The trade was a 76.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 33,750 shares of company stock worth $2,349,450. Insiders own 12.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RUSHA. EULAV Asset Management increased its position in shares of Rush Enterprises by 17.1% in the third quarter. EULAV Asset Management now owns 276,100 shares of the company's stock valued at $14,763,000 after acquiring an additional 40,378 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rush Enterprises by 76.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 80,969 shares of the company's stock worth $4,269,000 after purchasing an additional 34,979 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Rush Enterprises by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 238,940 shares of the company's stock worth $12,776,000 after purchasing an additional 30,293 shares during the last quarter. American Century Companies Inc. increased its holdings in Rush Enterprises by 38.6% during the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company's stock valued at $62,743,000 after purchasing an additional 326,917 shares during the period. Finally, SG Americas Securities LLC raised its position in Rush Enterprises by 399.5% during the 3rd quarter. SG Americas Securities LLC now owns 16,495 shares of the company's stock valued at $882,000 after purchasing an additional 13,193 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, 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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