Rush Enterprises (NASDAQ:RUSHA) Rating Lowered to “Hold” at Wall Street Zen

Rush Enterprises (NASDAQ:RUSHA) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research firms also recently issued reports on RUSHA. Stephens restated an “overweight” rating on shares of Rush Enterprises in a research report on Monday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $61.00.

Rush Enterprises Trading Down 2.8%

Rush Enterprises stock opened at $51.70 on Friday. The firm’s 50-day moving average is $56.33 and its 200-day moving average is $53.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. Rush Enterprises has a 1 year low of $47.06 and a 1 year high of $65.43. The company has a market cap of $4.02 billion, a P/E ratio of 14.73, a PEG ratio of 1.45 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. On average, equities analysts expect that Rush Enterprises will post 3.91 earnings per share for the current year.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 6,000 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.64, for a total transaction of $327,840.00. Following the sale, the director directly owned 15,771 shares in the company, valued at approximately $861,727.44. The trade was a 27.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $57.25, for a total transaction of $257,625.00. Following the sale, the senior vice president owned 12,510 shares in the company, valued at $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,480 shares of company stock worth $862,104 in the last ninety days. 12.28% of the stock is owned by insiders.

Institutional Trading of Rush Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its position in shares of Rush Enterprises by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock worth $2,955,000 after buying an additional 208 shares in the last quarter. State of Wyoming raised its position in shares of Rush Enterprises by 5.0% during the 1st quarter. State of Wyoming now owns 4,511 shares of the company’s stock worth $241,000 after buying an additional 213 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after buying an additional 217 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company’s stock worth $58,000 after buying an additional 227 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Rush Enterprises by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,392 shares of the company’s stock worth $329,000 after purchasing an additional 237 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

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 and Canada. 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, IC Bus, Blue Bird, and Dennis Eagle.