Metropolitan Life Insurance Co. NY decreased its position in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,604 shares of the company’s stock after selling 9,237 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Rush Enterprises were worth $488,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Rush Enterprises by 16.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 216,286 shares of the company’s stock worth $10,012,000 after acquiring an additional 30,429 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Rush Enterprises during the 4th quarter worth approximately $30,953,000. Dimensional Fund Advisors LP boosted its stake in shares of Rush Enterprises by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,618,857 shares of the company’s stock worth $121,227,000 after acquiring an additional 48,762 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Rush Enterprises by 14.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 298,448 shares of the company’s stock worth $13,816,000 after acquiring an additional 36,914 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Rush Enterprises by 0.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 485,172 shares of the company’s stock worth $24,651,000 after acquiring an additional 1,873 shares in the last quarter. 78.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on RUSHA shares. Zacks Investment Research lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. ValuEngine raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, January 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price (down previously from $49.00) on shares of Rush Enterprises in a research note on Tuesday, February 20th. BidaskClub lowered Rush Enterprises from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets reduced their target price on Rush Enterprises from $50.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $51.80.
Shares of Rush Enterprises stock opened at $38.90 on Friday. Rush Enterprises, Inc. has a fifty-two week low of $33.14 and a fifty-two week high of $55.40. The firm has a market cap of $1,541.14, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.90 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.29 and a current ratio of 1.17.
Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Rush Enterprises had a return on equity of 10.00% and a net margin of 3.65%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. analysts expect that Rush Enterprises, Inc. will post 2.85 earnings per share for the current fiscal year.
Rush Enterprises declared that its Board of Directors has authorized a share repurchase program on Wednesday, March 14th that allows the company to buyback $35.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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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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