Rush Enterprises (NASDAQ:RUSHA) Price Target Raised to $53.00 at BMO Capital Markets

Rush Enterprises (NASDAQ:RUSHA) had its target price increased by equities researchers at BMO Capital Markets from $49.00 to $53.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 12.96% from the company’s previous close.

Separately, Zacks Investment Research cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 2nd.

Shares of RUSHA stock opened at $46.92 on Thursday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 0.88 and a beta of 1.29. Rush Enterprises has a 12 month low of $29.50 and a 12 month high of $51.98. The stock has a 50-day moving average price of $45.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 1.36.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Monday, July 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.18. Rush Enterprises had a return on equity of 14.06% and a net margin of 3.57%. On average, analysts expect that Rush Enterprises will post 3.45 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. American International Group Inc. increased its holdings in shares of Rush Enterprises by 1.5% during the 1st quarter. American International Group Inc. now owns 24,154 shares of the company’s stock worth $1,204,000 after acquiring an additional 359 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Rush Enterprises by 2.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,473 shares of the company’s stock valued at $871,000 after buying an additional 487 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Rush Enterprises by 1.8% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 28,796 shares of the company’s stock valued at $1,435,000 after buying an additional 500 shares in the last quarter. California State Teachers Retirement System grew its holdings in Rush Enterprises by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 62,512 shares of the company’s stock valued at $3,115,000 after buying an additional 561 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Rush Enterprises by 123.0% in the 1st quarter. Federated Hermes Inc. now owns 1,191 shares of the company’s stock valued at $59,000 after buying an additional 657 shares in the last quarter. 72.64% of the stock is currently owned by institutional investors and hedge funds.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.

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