Prescott Group Capital Management L.L.C. grew its stake in Rush Enterprises (NASDAQ:RUSHA) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,272 shares of the company’s stock after acquiring an additional 2,629 shares during the quarter. Rush Enterprises accounts for 1.7% of Prescott Group Capital Management L.L.C.’s holdings, making the stock its 12th biggest position. Prescott Group Capital Management L.L.C. owned 0.46% of Rush Enterprises worth $7,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in Rush Enterprises during the 4th quarter worth approximately $30,953,000. Renaissance Technologies LLC raised its stake in Rush Enterprises by 39.1% in the 4th quarter. Renaissance Technologies LLC now owns 731,078 shares of the company’s stock valued at $37,146,000 after acquiring an additional 205,400 shares during the period. Victory Capital Management Inc. raised its stake in Rush Enterprises by 3,564.6% in the 1st quarter. Victory Capital Management Inc. now owns 182,056 shares of the company’s stock valued at $7,735,000 after acquiring an additional 177,088 shares during the period. Mackay Shields LLC bought a new stake in Rush Enterprises in the 1st quarter valued at $4,658,000. Finally, Wells Fargo & Company MN raised its stake in Rush Enterprises by 161.9% in the 1st quarter. Wells Fargo & Company MN now owns 170,504 shares of the company’s stock valued at $7,244,000 after acquiring an additional 105,409 shares during the period. 80.17% of the stock is owned by institutional investors.
Rush Enterprises traded up $0.36, reaching $44.53, during mid-day trading on Friday, Marketbeat Ratings reports. The stock had a trading volume of 137,966 shares, compared to its average volume of 264,879. The stock has a market capitalization of $1.76 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 1.16. Rush Enterprises has a fifty-two week low of $34.30 and a fifty-two week high of $55.40.
Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Wednesday, February 14th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Rush Enterprises had a return on equity of 11.09% and a net margin of 3.64%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. research analysts forecast that Rush Enterprises will post 3.01 EPS for the current year.
Rush Enterprises announced that its board has initiated a share repurchase plan on Wednesday, March 14th that authorizes the company to buyback $35.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several research analysts have weighed in on RUSHA shares. BidaskClub cut Rush Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. ValuEngine raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stephens raised Rush Enterprises from an “equal weight” rating to an “overweight” rating in a research note on Friday, February 9th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target (down from $49.00) on shares of Rush Enterprises in a research note on Tuesday, February 20th. Finally, Zacks Investment Research raised Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, May 2nd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $50.33.
Rush Enterprises 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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