Rush Enterprises (NASDAQ:RUSHA) Now Covered by Analysts at UBS Group

UBS Group assumed coverage on shares of Rush Enterprises (NASDAQ:RUSHA) in a report issued on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating and a $70.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, January 22nd. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Stephens reduced their price objective on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Rush Enterprises Stock Performance

NASDAQ:RUSHA traded up $0.62 during mid-day trading on Wednesday, reaching $62.90. The stock had a trading volume of 53,253 shares, compared to its average volume of 372,844. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.34 and a current ratio of 1.37. The business has a 50 day simple moving average of $56.76 and a 200 day simple moving average of $54.68. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 0.77 and a beta of 0.92. Rush Enterprises has a twelve month low of $45.67 and a twelve month high of $66.11.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Wednesday, October 29th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. Rush Enterprises had a return on equity of 12.52% and a net margin of 3.57%.The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.75 billion. On average, analysts expect that Rush Enterprises will post 3.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Rush Enterprises by 540.0% during the second quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock valued at $43,604,000 after purchasing an additional 714,253 shares during the last quarter. Millennium Management LLC lifted its holdings in Rush Enterprises by 280.4% during the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after acquiring an additional 398,721 shares in the last quarter. Rivulet Capital LLC acquired a new stake in Rush Enterprises during the 2nd quarter worth approximately $19,286,000. Ameriprise Financial Inc. increased its holdings in Rush Enterprises by 91.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock worth $32,392,000 after purchasing an additional 301,119 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Rush Enterprises by 303.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 352,922 shares of the company’s stock valued at $18,179,000 after acquiring an additional 265,432 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.