Rush Enterprises, Inc. (RUSHA) PT Raised to $45.00

Rush Enterprises, Inc. (NASDAQ:RUSHA) had its price objective raised by equities researchers at Stifel Nicolaus from $41.00 to $45.00 in a research note issued to investors on Monday. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential downside of 11.38% from the company’s previous close.

Other research analysts have also issued research reports about the company. BidaskClub raised Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. ValuEngine raised Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $30.00 price target on shares of Rush Enterprises in a research report on Friday, July 7th. Zacks Investment Research lowered Rush Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Buckingham Research initiated coverage on Rush Enterprises in a research report on Tuesday, September 5th. They set a “neutral” rating and a $40.00 price target on the stock. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Rush Enterprises presently has a consensus rating of “Hold” and a consensus target price of $46.00.

Rush Enterprises (NASDAQ:RUSHA) opened at 50.78 on Monday. The firm has a market cap of $2.02 billion, a P/E ratio of 32.06 and a beta of 1.18. The firm’s 50-day moving average price is $45.96 and its 200 day moving average price is $40.01. Rush Enterprises has a one year low of $24.66 and a one year high of $54.11.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.25. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Rush Enterprises had a return on equity of 8.95% and a net margin of 1.74%. On average, equities research analysts forecast that Rush Enterprises will post $2.09 EPS for the current year.

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In other news, EVP Derrek Weaver sold 26,732 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the completion of the sale, the executive vice president now directly owns 14,733 shares in the company, valued at approximately $768,031.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.19% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Rush Enterprises by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 186,367 shares of the company’s stock worth $6,163,000 after buying an additional 5,072 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Rush Enterprises by 110.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 15,325 shares of the company’s stock worth $507,000 after buying an additional 8,037 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Rush Enterprises by 3.6% during the 1st quarter. Ameriprise Financial Inc. now owns 51,292 shares of the company’s stock worth $1,697,000 after buying an additional 1,798 shares during the last quarter. American International Group Inc. lifted its position in shares of Rush Enterprises by 7.1% during the 1st quarter. American International Group Inc. now owns 18,143 shares of the company’s stock worth $600,000 after buying an additional 1,195 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Rush Enterprises by 15.9% during the 1st quarter. Wellington Management Group LLP now owns 18,617 shares of the company’s stock worth $616,000 after buying an additional 2,555 shares during the last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc is an integrated 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. Through its Rush Truck Centers, it 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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