UBS Asset Management Americas Inc. Has $507,000 Position in Rush Enterprises, Inc. (NASDAQ:RUSHA)

UBS Asset Management Americas Inc. raised its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 110.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,325 shares of the company’s stock after buying an additional 8,037 shares during the period. UBS Asset Management Americas Inc.’s holdings in Rush Enterprises were worth $507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Rush Enterprises during the fourth quarter valued at $7,766,000. State Street Corp boosted its position in shares of Rush Enterprises by 0.5% in the fourth quarter. State Street Corp now owns 603,871 shares of the company’s stock worth $19,265,000 after buying an additional 3,300 shares during the last quarter. Suntrust Banks Inc. boosted its position in shares of Rush Enterprises by 33.6% in the first quarter. Suntrust Banks Inc. now owns 18,617 shares of the company’s stock worth $615,000 after buying an additional 4,687 shares during the last quarter. US Bancorp DE boosted its position in shares of Rush Enterprises by 5.3% in the first quarter. US Bancorp DE now owns 20,872 shares of the company’s stock worth $690,000 after buying an additional 1,043 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Rush Enterprises by 6.4% in the first quarter. Bank of Montreal Can now owns 185,418 shares of the company’s stock worth $6,134,000 after buying an additional 11,174 shares during the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

Rush Enterprises, Inc. (NASDAQ:RUSHA) traded down 0.18% during midday trading on Friday, reaching $39.41. 117,422 shares of the company traded hands. Rush Enterprises, Inc. has a one year low of $21.99 and a one year high of $43.55. The stock has a market capitalization of $1.57 billion, a P/E ratio of 24.88 and a beta of 1.19. The company has a 50 day moving average price of $39.23 and a 200-day moving average price of $36.06.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.15. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.07 billion. Rush Enterprises had a return on equity of 7.31% and a net margin of 1.46%. Analysts forecast that Rush Enterprises, Inc. will post $1.80 EPS for the current fiscal year.

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RUSHA has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, June 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $38.00 target price on shares of Rush Enterprises in a research report on Friday, July 28th. BMO Capital Markets boosted their price objective on shares of Rush Enterprises from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. BidaskClub cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, TheStreet upgraded shares of Rush Enterprises from a “c+” rating to a “b-” rating in a research report on Tuesday, April 25th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Rush Enterprises has an average rating of “Buy” and a consensus price target of $42.25.

About Rush Enterprises

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.