Rush Enterprises Inc. (RUSHA) Stake Cut by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. cut its position in Rush Enterprises Inc. (NASDAQ:RUSHA) by 24.7% during the second quarter, Holdings Channel reports. The firm owned 343,037 shares of the company’s stock after selling 112,646 shares during the period. Tocqueville Asset Management L.P.’s holdings in Rush Enterprises were worth $7,392,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in RUSHA. Zebra Capital Management LLC boosted its stake in Rush Enterprises by 6.4% in the first quarter. Zebra Capital Management LLC now owns 39,834 shares of the company’s stock worth $727,000 after buying an additional 2,381 shares in the last quarter. Pacific Global Investment Management CO boosted its stake in Rush Enterprises by 2.5% in the first quarter. Pacific Global Investment Management CO now owns 259,470 shares of the company’s stock worth $4,733,000 after buying an additional 6,260 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in 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 worth $15,922,000 after buying an additional 21,532 shares in the last quarter. Cooke & Bieler LP boosted its stake in Rush Enterprises by 6.3% in the second quarter. Cooke & Bieler LP now owns 568,073 shares of the company’s stock worth $12,242,000 after buying an additional 33,599 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Rush Enterprises during the first quarter worth approximately $944,000. Hedge funds and other institutional investors own 78.52% of the company’s stock.
Shares of Rush Enterprises Inc. (NASDAQ:RUSHA) traded up 0.72% on Tuesday, hitting $22.31. The company’s stock had a trading volume of 31,297 shares. The firm has a market cap of $884.84 million, a price-to-earnings ratio of 21.43 and a beta of 1.53. Rush Enterprises Inc. has a one year low of $14.19 and a one year high of $26.57. The stock has a 50-day moving average price of $23.67 and a 200 day moving average price of $21.69.
Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, July 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Rush Enterprises had a net margin of 0.94% and a return on equity of 6.16%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.10 billion. Equities research analysts predict that Rush Enterprises Inc. will post $1.05 EPS for the current year.
A number of equities research analysts have commented on the company. Stephens cut Rush Enterprises from an “overweight” rating to an “equal weight” rating in a report on Friday, July 15th. Zacks Investment Research raised Rush Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. BMO Capital Markets raised their price target on Rush Enterprises from $20.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 1st. Finally, Stifel Nicolaus assumed coverage on Rush Enterprises in a report on Monday, October 10th. They set a “hold” rating and a $22.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $20.25.
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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