Stephens Reiterates Overweight Rating for Rush Enterprises (NASDAQ:RUSHA)

Rush Enterprises (NASDAQ:RUSHA)‘s stock had its “overweight” rating reissued by Stephens in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $60.00 price objective on the stock. Stephens’ price objective indicates a potential upside of 32.13% from the company’s current price.

Separately, StockNews.com downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, January 1st.

Rush Enterprises Stock Down 2.2 %

Shares of RUSHA opened at $45.41 on Wednesday. Rush Enterprises has a 52 week low of $33.37 and a 52 week high of $53.78. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 1.35. The stock has a fifty day moving average of $49.35 and a 200-day moving average of $44.83.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The business had revenue of $1.87 billion during the quarter. Rush Enterprises had a return on equity of 17.28% and a net margin of 4.16%. During the same quarter in the previous year, the company earned $1.07 earnings per share. As a group, sell-side analysts anticipate that Rush Enterprises will post 2.88 earnings per share for the current fiscal year.

Insider Transactions at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $48.28, for a total value of $543,150.00. Following the transaction, the senior vice president now owns 2,777 shares of the company’s stock, valued at approximately $134,073.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Several large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its position in shares of Rush Enterprises by 50.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 95,737 shares of the company’s stock worth $3,908,000 after buying an additional 31,912 shares in the last quarter. Corbyn Investment Management Inc. MD lifted its position in shares of Rush Enterprises by 47.9% during the 3rd quarter. Corbyn Investment Management Inc. MD now owns 29,142 shares of the company’s stock worth $1,190,000 after buying an additional 9,438 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Rush Enterprises by 50.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 14,439 shares of the company’s stock worth $590,000 after buying an additional 4,813 shares in the last quarter. Simplicity Solutions LLC lifted its position in shares of Rush Enterprises by 51.2% during the 3rd quarter. Simplicity Solutions LLC now owns 13,050 shares of the company’s stock worth $533,000 after buying an additional 4,419 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of Rush Enterprises by 31.2% during the 3rd quarter. Peregrine Capital Management LLC now owns 264,376 shares of the company’s stock worth $10,794,000 after buying an additional 62,894 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

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.