BMO Capital Markets Trims Rush Enterprises (RUSHA) Target Price to $45.00

Rush Enterprises (NASDAQ:RUSHA) had its target price lowered by BMO Capital Markets from $50.00 to $45.00 in a report released on Tuesday morning. The firm currently has a market perform rating on the stock.

RUSHA has been the subject of several other reports. Stifel Nicolaus increased their price objective on Rush Enterprises from $41.00 to $45.00 and gave the stock a hold rating in a research note on Monday, October 30th. ValuEngine upgraded Rush Enterprises from a hold rating to a buy rating in a research note on Tuesday, January 2nd. Zacks Investment Research lowered Rush Enterprises from a strong-buy rating to a hold rating in a research note on Tuesday, February 6th. BidaskClub lowered Rush Enterprises from a hold rating to a sell rating in a research note on Friday, February 9th. Finally, Seaport Global Securities reiterated a buy rating and set a $62.00 price objective on shares of Rush Enterprises in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Rush Enterprises presently has an average rating of Hold and a consensus target price of $49.20.

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Rush Enterprises (NASDAQ RUSHA) opened at $39.73 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.29 and a current ratio of 1.16. Rush Enterprises has a 12 month low of $30.74 and a 12 month high of $55.40. The stock has a market capitalization of $1,600.00, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09.

Rush Enterprises announced that its Board of Directors has authorized a share buyback plan on Thursday, November 30th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, SVP Scott T. Anderson sold 12,144 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $50.76, for a total value of $616,429.44. Following the completion of the sale, the senior vice president now directly owns 3,600 shares in the company, valued at $182,736. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.19% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its holdings in Rush Enterprises by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock valued at $152,000 after acquiring an additional 316 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Rush Enterprises by 70.7% in the third quarter. Great West Life Assurance Co. Can now owns 3,362 shares of the company’s stock valued at $157,000 after acquiring an additional 1,393 shares during the last quarter. Sei Investments Co. bought a new position in Rush Enterprises in the third quarter valued at about $182,000. Trexquant Investment LP bought a new position in Rush Enterprises in the third quarter valued at about $204,000. Finally, Amalgamated Bank bought a new position in Rush Enterprises in the fourth quarter valued at about $209,000. Institutional investors own 77.02% 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.

Analyst Recommendations for Rush Enterprises (NASDAQ:RUSHA)

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