Seaport Global Securities Reiterates “Buy” Rating for Rush Enterprises (RUSHA)

Seaport Global Securities reissued their buy rating on shares of Rush Enterprises (NASDAQ:RUSHA) in a research report released on Wednesday. The firm currently has a $62.00 price objective on the stock. Seaport Global Securities also issued estimates for Rush Enterprises’ Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $2.15 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.10 EPS.

Several other equities analysts have also weighed in on RUSHA. Zacks Investment Research lowered shares of Rush Enterprises from a strong-buy rating to a hold rating in a report on Wednesday, September 27th. ValuEngine lowered shares of Rush Enterprises from a buy rating to a hold rating in a report on Monday, October 2nd. BMO Capital Markets restated a market perform rating and issued a $50.00 price objective (up from $42.00) on shares of Rush Enterprises in a report on Monday, October 30th. They noted that the move was a valuation call. Stifel Nicolaus increased their price objective on shares of Rush Enterprises from $41.00 to $45.00 and gave the company a hold rating in a report on Monday, October 30th. Finally, BidaskClub lowered shares of Rush Enterprises from a buy rating to a hold rating in a report on Saturday, December 9th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $50.00.

Shares of Rush Enterprises (RUSHA) traded up $0.80 during midday trading on Wednesday, reaching $53.13. 125,383 shares of the company traded hands, compared to its average volume of 170,473. Rush Enterprises has a fifty-two week low of $30.74 and a fifty-two week high of $54.37. The firm has a market capitalization of $2,116.38, a price-to-earnings ratio of 27.53, a P/E/G ratio of 1.41 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.29.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.25. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. equities research analysts anticipate that Rush Enterprises will post 2.17 earnings per share for the current fiscal year.

Rush Enterprises announced that its board has authorized a stock buyback program on Thursday, November 30th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other news, CEO William M. Rusty Rush sold 10,906 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $51.24, for a total transaction of $558,823.44. Following the completion of the sale, the chief executive officer now owns 96,155 shares of the company’s stock, valued at $4,926,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott T. Anderson sold 12,144 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $50.76, for a total transaction of $616,429.44. Following the sale, the senior vice president now directly owns 3,600 shares of the company’s stock, valued at approximately $182,736. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,982 shares of company stock worth $3,747,332. Company insiders own 11.19% of the company’s stock.

Several hedge funds have recently modified their holdings of RUSHA. Schwab Charles Investment Management Inc. increased its position in shares of Rush Enterprises by 1.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 261,534 shares of the company’s stock worth $9,724,000 after acquiring an additional 3,496 shares in the last quarter. Legal & General Group Plc increased its position in shares of Rush Enterprises by 0.5% during the second quarter. Legal & General Group Plc now owns 42,999 shares of the company’s stock worth $1,597,000 after acquiring an additional 199 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Rush Enterprises by 226.6% during the second quarter. BNP Paribas Arbitrage SA now owns 6,167 shares of the company’s stock worth $229,000 after acquiring an additional 4,279 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Rush Enterprises by 27.9% during the second quarter. Prudential Financial Inc. now owns 84,193 shares of the company’s stock worth $3,130,000 after acquiring an additional 18,350 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Rush Enterprises during the second quarter worth $296,000. 76.27% of the stock is owned by institutional investors.

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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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