Rush Enterprises (RUSHA) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a buy rating in a report released on Tuesday.

Several other equities research analysts have also commented on RUSHA. Buckingham Research initiated coverage on shares of Rush Enterprises in a research report on Tuesday, September 5th. They set a neutral rating and a $40.00 target price on the stock. Zacks Investment Research lowered shares of Rush Enterprises from a strong-buy rating to a hold rating in a research report on Wednesday, September 27th. BMO Capital Markets reiterated a market perform rating and issued a $50.00 price objective (up from $42.00) on shares of Rush Enterprises in a research report on Monday, October 30th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Rush Enterprises from $41.00 to $45.00 and gave the stock a hold rating in a research report on Monday, October 30th. Finally, BidaskClub lowered shares of Rush Enterprises from a buy rating to a hold rating in a research report on Saturday, December 9th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $46.00.

Shares of Rush Enterprises (NASDAQ RUSHA) traded down $0.03 on Tuesday, reaching $49.41. 160,071 shares of the company’s stock traded hands, compared to its average volume of 184,785. The company has a quick ratio of 0.29, a current ratio of 1.16 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2,023.97, a PE ratio of 25.60, a P/E/G ratio of 1.36 and a beta of 1.17. Rush Enterprises has a 12 month low of $30.36 and a 12 month high of $54.11.

Rush Enterprises (NASDAQ:RUSHA) last issued its earnings results on Wednesday, October 25th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.47 by $0.25. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Rush Enterprises had a net margin of 1.74% and a return on equity of 8.82%. sell-side analysts anticipate that Rush Enterprises will post 2.17 EPS for the current fiscal year.

Rush Enterprises declared that its board has approved a share buyback plan on Thursday, November 30th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, SVP Scott T. Anderson sold 12,144 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total transaction of $616,429.44. Following the completion of the transaction, the senior vice president now owns 3,600 shares of the company’s stock, valued at approximately $182,736. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James E. Thor sold 24,200 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.70, for a total transaction of $1,178,540.00. Following the transaction, the senior vice president now directly owns 39,032 shares of the company’s stock, valued at approximately $1,900,858.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,982 shares of company stock valued at $3,747,332. Corporate insiders own 11.19% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Rush Enterprises by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock worth $109,302,000 after purchasing an additional 230,463 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Rush Enterprises by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,618,857 shares of the company’s stock worth $121,227,000 after acquiring an additional 48,762 shares during the period. Northern Trust Corp boosted its holdings in Rush Enterprises by 7.5% in the 2nd quarter. Northern Trust Corp now owns 989,043 shares of the company’s stock worth $36,773,000 after acquiring an additional 69,015 shares during the period. JPMorgan Chase & Co. boosted its holdings in Rush Enterprises by 17.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 799,150 shares of the company’s stock worth $29,712,000 after acquiring an additional 118,386 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in Rush Enterprises by 6.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 771,376 shares of the company’s stock worth $35,707,000 after acquiring an additional 48,737 shares during the period. 76.27% of the stock is owned by hedge funds and other institutional investors.

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Rush Enterprises Company Profile

Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

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