Rush Enterprises (NASDAQ:RUSHA) Stock Price Expected to Rise, Stephens Analyst Says

Rush Enterprises (NASDAQ:RUSHA) had its price target upped by research analysts at Stephens from $66.00 to $69.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price suggests a potential upside of 20.08% from the company’s previous close.

Rush Enterprises Trading Up 1.6 %

Shares of NASDAQ RUSHA traded up $0.88 during mid-day trading on Friday, reaching $57.46. The company had a trading volume of 599,883 shares, compared to its average volume of 351,254. The business’s 50-day moving average is $51.86 and its 200-day moving average is $48.17. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 2.20 and a beta of 1.01. Rush Enterprises has a 52 week low of $36.40 and a 52 week high of $60.55.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business earned $0.96 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts expect that Rush Enterprises will post 3.45 earnings per share for the current year.

Insiders Place Their Bets

In other Rush Enterprises news, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the transaction, the chief operating officer now directly owns 15,220 shares in the company, valued at $771,958.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Rush Enterprises news, SVP Michael L. Goldstone sold 7,875 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $51.25, for a total transaction of $403,593.75. Following the completion of the sale, the senior vice president now directly owns 12,238 shares of the company’s stock, valued at approximately $627,197.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the sale, the chief operating officer now directly owns 15,220 shares of the company’s stock, valued at approximately $771,958.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,875 shares of company stock worth $3,422,554 in the last three months. Corporate insiders own 12.53% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of RUSHA. UniSuper Management Pty Ltd acquired a new position in Rush Enterprises in the 1st quarter worth approximately $612,000. Edgestream Partners L.P. acquired a new position in shares of Rush Enterprises during the 1st quarter valued at about $898,000. Janney Montgomery Scott LLC acquired a new position in shares of Rush Enterprises during the 1st quarter valued at about $625,000. Illinois Municipal Retirement Fund acquired a new position in Rush Enterprises in the first quarter valued at about $1,913,000. Finally, BNP Paribas Financial Markets lifted its position in Rush Enterprises by 89.6% in the first quarter. BNP Paribas Financial Markets now owns 33,557 shares of the company’s stock valued at $1,796,000 after buying an additional 15,856 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

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.