Rush Enterprises Inc. (RUSHA) Rating Lowered to Hold at Zacks Investment Research
Rush Enterprises Inc. (NASDAQ:RUSHA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Rush Enterprises operates the largest network of Peterbilt heavy-duty truck dealerships in North America and John Deere construction equipment dealerships in Texas and Michigan. Their current operations include a network of dealerships located in Texas, California, Oklahoma, Louisiana, Colorado, Arizona, New Mexico and Michigan. These dealerships provide an integrated, one-stop source for the retail sale of new and used heavy-duty trucks and construction equipment; aftermarket parts, service and body shop facilities; and a wide array of financial services. “
Other analysts have also recently issued research reports about the stock. Stephens cut shares of Rush Enterprises from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 15th. BMO Capital Markets restated an “outperform” rating and set a $25.00 target price on shares of Rush Enterprises in a research note on Friday, September 16th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. Rush Enterprises currently has an average rating of “Hold” and a consensus price target of $19.67.
Shares of Rush Enterprises (NASDAQ:RUSHA) opened at 24.85 on Wednesday. The company has a market capitalization of $985.58 million, a PE ratio of 23.87 and a beta of 1.53. Rush Enterprises has a 52 week low of $14.19 and a 52 week high of $27.45. The firm’s 50-day moving average is $23.74 and its 200 day moving average is $21.41.
Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Rush Enterprises had a net margin of 0.94% and a return on equity of 6.16%. The company earned $1.03 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, analysts anticipate that Rush Enterprises will post $1.05 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Rush Enterprises by 4.2% in the second quarter. Vanguard Group Inc. now owns 2,385,606 shares of the company’s stock valued at $51,409,000 after buying an additional 95,672 shares during the last quarter. Magnolia Group LLC boosted its position in shares of Rush Enterprises by 1.7% in the second quarter. Magnolia Group LLC now owns 1,507,023 shares of the company’s stock valued at $32,476,000 after buying an additional 25,000 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Rush Enterprises by 0.8% in the second quarter. Westfield Capital Management Co. LP now owns 1,216,674 shares of the company’s stock valued at $26,219,000 after buying an additional 10,140 shares during the last quarter. FMR LLC boosted its position in shares of Rush Enterprises by 1.3% in the second quarter. FMR LLC now owns 1,153,826 shares of the company’s stock valued at $24,865,000 after buying an additional 14,700 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Rush Enterprises by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 872,941 shares of the company’s stock valued at $15,922,000 after buying an additional 21,532 shares during the last quarter. Institutional investors own 78.52% of the company’s stock.
About Rush Enterprises
Rush Enterprises, Inc is a retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. The Company, through its Rush Truck Centers, offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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