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

Wall Street Zen cut shares of Rush Enterprises (NASDAQ:RUSHA) from a buy rating to a hold rating in a report published on Saturday.

A number of other research firms have also recently weighed in on RUSHA. UBS Group initiated coverage on shares of Rush Enterprises in a report on Wednesday, January 28th. They issued a “neutral” rating and a $70.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Thursday, January 22nd. Stephens reduced their price target on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Rush Enterprises has an average rating of “Moderate Buy” and an average target price of $62.50.

Rush Enterprises Trading Up 4.4%

Rush Enterprises stock opened at $67.04 on Friday. The firm has a market cap of $5.17 billion, a PE ratio of 19.89, a P/E/G ratio of 0.79 and a beta of 0.92. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $67.08. The stock’s 50 day simple moving average is $57.65 and its two-hundred day simple moving average is $54.95. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Rush Enterprises by 0.3% in the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock worth $121,524,000 after acquiring an additional 6,994 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Rush Enterprises by 14.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,179,236 shares of the company’s stock valued at $63,054,000 after purchasing an additional 148,363 shares in the last quarter. American Century Companies Inc. boosted its stake in Rush Enterprises by 38.6% during the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock worth $62,743,000 after purchasing an additional 326,917 shares during the last quarter. Jennison Associates LLC boosted its stake in Rush Enterprises by 4.6% during the 2nd quarter. Jennison Associates LLC now owns 923,847 shares of the company’s stock worth $47,587,000 after purchasing an additional 40,936 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. grew its holdings in shares of Rush Enterprises by 4.5% during the second quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock worth $43,469,000 after buying an additional 36,600 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Company Profile

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.