Rush Enterprises, Inc. (NASDAQ:RUSHA) has earned a consensus recommendation of “Buy” from the ten brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $48.50.
A number of analysts recently weighed in on RUSHA shares. ValuEngine lowered shares of Rush Enterprises from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Buckingham Research restated a “buy” rating on shares of Rush Enterprises in a research note on Tuesday, October 2nd. BidaskClub upgraded shares of Rush Enterprises from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, October 16th. Finally, Credit Suisse Group cut their target price on shares of Rush Enterprises from $46.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Rush Enterprises by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,085,970 shares of the company’s stock worth $160,809,000 after purchasing an additional 291,917 shares during the last quarter. BlackRock Inc. increased its holdings in Rush Enterprises by 15.8% during the 3rd quarter. BlackRock Inc. now owns 2,948,628 shares of the company’s stock worth $115,911,000 after purchasing an additional 401,738 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Rush Enterprises by 18.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,101,928 shares of the company’s stock worth $43,316,000 after acquiring an additional 174,219 shares during the period. Northern Trust Corp boosted its position in Rush Enterprises by 3.1% during the 2nd quarter. Northern Trust Corp now owns 993,808 shares of the company’s stock worth $43,111,000 after acquiring an additional 30,009 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Rush Enterprises by 21.2% during the 3rd quarter. Renaissance Technologies LLC now owns 793,278 shares of the company’s stock worth $31,184,000 after acquiring an additional 138,578 shares during the period. 74.75% of the stock is currently owned by institutional investors and hedge funds.
Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, October 23rd. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.14. Rush Enterprises had a net margin of 3.83% and a return on equity of 12.85%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. As a group, analysts forecast that Rush Enterprises will post 3.55 earnings per share for the current year.
Rush Enterprises Company Profile
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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