Rush Enterprises (RUSHA) Downgraded by BidaskClub to “Hold”

BidaskClub cut shares of Rush Enterprises (NASDAQ:RUSHA) from a buy rating to a hold rating in a research note released on Saturday morning.

RUSHA has been the subject of several other research reports. Zacks Investment Research raised shares of Rush Enterprises from a hold rating to a strong-buy rating and set a $53.00 target price for the company in a report on Wednesday, October 18th. Stifel Nicolaus raised their target price on shares of Rush Enterprises from $41.00 to $45.00 and gave the stock a hold rating in a report on Monday, October 30th. BMO Capital Markets reissued a market perform rating and set a $50.00 target price (up previously from $42.00) on shares of Rush Enterprises in a report on Monday, October 30th. They noted that the move was a valuation call. ValuEngine raised shares of Rush Enterprises from a hold rating to a buy rating in a report on Friday, September 1st. Finally, Buckingham Research initiated coverage on shares of Rush Enterprises in a report on Tuesday, September 5th. They set a neutral rating and a $40.00 target price for the company. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rush Enterprises currently has an average rating of Hold and a consensus target price of $46.00.

Rush Enterprises (RUSHA) traded up $0.11 during midday trading on Friday, hitting $49.03. The firm has a market capitalization of $1,950.00, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 1.58 and a beta of 1.17. Rush Enterprises has a 1-year low of $29.68 and a 1-year high of $54.11. The company has a quick ratio of 0.29, a current ratio of 1.16 and a debt-to-equity ratio of 0.55.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.25. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. research analysts expect that Rush Enterprises will post 2.07 earnings per share for the current year.

Rush Enterprises declared that its Board of Directors has initiated a stock buyback program on Thursday, November 30th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In related news, EVP Derrek Weaver sold 26,732 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $52.13, for a total transaction of $1,393,539.16. Following the sale, the executive vice president now owns 14,733 shares in the company, valued at $768,031.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James E. Thor sold 24,200 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.70, for a total transaction of $1,178,540.00. Following the sale, the senior vice president now owns 39,032 shares in the company, valued at approximately $1,900,858.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,982 shares of company stock valued at $3,747,332. 11.19% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE grew its position in Rush Enterprises by 0.8% during the second quarter. US Bancorp DE now owns 21,036 shares of the company’s stock valued at $782,000 after buying an additional 164 shares during the period. State Board of Administration of Florida Retirement System grew its position in Rush Enterprises by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 38,182 shares of the company’s stock valued at $1,420,000 after buying an additional 164 shares during the period. Legal & General Group Plc grew its position in Rush Enterprises by 0.5% during the second quarter. Legal & General Group Plc now owns 42,999 shares of the company’s stock valued at $1,597,000 after buying an additional 199 shares during the period. Ameritas Investment Partners Inc. grew its position in Rush Enterprises by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock valued at $152,000 after buying an additional 316 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Rush Enterprises by 12.7% during the second quarter. PNC Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $256,000 after buying an additional 780 shares during the period. Institutional investors own 76.37% of the company’s stock.

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Rush Enterprises Company Profile

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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