Rush Enterprises Inc. (RUSHA) Coverage Initiated at Stifel Nicolaus
Investment analysts at Stifel Nicolaus began coverage on shares of Rush Enterprises Inc. (NASDAQ:RUSHA) in a research note issued to investors on Monday. The firm set a “hold” rating and a $22.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential downside of 10.39% from the stock’s previous close.
A number of other research analysts have also issued reports on RUSHA. Zacks Investment Research upgraded Rush Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Stephens lowered Rush Enterprises from an “overweight” rating to an “equal weight” rating in a report on Friday, July 15th. Finally, BMO Capital Markets raised their price objective on Rush Enterprises from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 1st. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.25.
Rush Enterprises (NASDAQ:RUSHA) traded up 1.53% on Monday, reaching $24.55. 128,274 shares of the company’s stock were exchanged. The firm has a market cap of $973.68 million, a PE ratio of 23.58 and a beta of 1.53. Rush Enterprises has a one year low of $14.19 and a one year high of $27.45. The firm has a 50 day moving average price of $23.81 and a 200 day moving average price of $21.55.
Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, July 26th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. Rush Enterprises had a return on equity of 6.16% and a net margin of 0.94%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, equities analysts anticipate that Rush Enterprises will post $1.05 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cortina Asset Management LLC bought a new position in Rush Enterprises during the second quarter valued at approximately $4,548,000. Vanguard Group Inc. raised its position in 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 in the last quarter. Bank of Montreal Can bought a new position in Rush Enterprises during the second quarter valued at approximately $2,031,000. First Trust Advisors LP bought a new position in Rush Enterprises during the second quarter valued at approximately $1,995,000. Finally, Emerald Acquisition Ltd. bought a new position in Rush Enterprises during the second quarter valued at approximately $1,360,000. Institutional investors and hedge funds 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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