California Public Employees Retirement System trimmed its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,625 shares of the company’s stock after selling 3,660 shares during the quarter. California Public Employees Retirement System owned approximately 0.09% of Rush Enterprises worth $1,810,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Rush Enterprises in the 4th quarter valued at $542,000. Alambic Investment Management L.P. increased its holdings in shares of Rush Enterprises by 26.5% in the 4th quarter. Alambic Investment Management L.P. now owns 21,015 shares of the company’s stock valued at $1,068,000 after acquiring an additional 4,400 shares during the period. Wedge Capital Management L L P NC purchased a new position in Rush Enterprises in the 4th quarter valued at $368,000. Chicago Equity Partners LLC grew its position in Rush Enterprises by 4.5% in the 4th quarter. Chicago Equity Partners LLC now owns 155,210 shares of the company’s stock valued at $7,886,000 after buying an additional 6,720 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its position in Rush Enterprises by 25.1% in the 4th quarter. Eqis Capital Management Inc. now owns 6,407 shares of the company’s stock valued at $326,000 after buying an additional 1,287 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Wednesday, February 7th. Buckingham Research upgraded shares of Rush Enterprises from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, February 27th. BidaskClub lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. ValuEngine upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets lowered their price objective on shares of Rush Enterprises from $50.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $51.80.
Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. Rush Enterprises had a net margin of 3.65% and a return on equity of 10.00%. equities analysts anticipate that Rush Enterprises, Inc. will post 2.85 earnings per share for the current year.
Rush Enterprises announced that its Board of Directors has approved a stock repurchase program on Thursday, November 30th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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