Stifel Starts Rush Enterprises Inc. (RUSHA) at Hold

October 10, 2016 4:59 PM EDT
Get Alerts RUSHA Hot Sheet
Price: $32.92 -0.24%

Rating Summary:
    3 Buy, 10 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 23
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Stifel initiates coverage on Rush Enterprises Inc. (NASDAQ: RUSHA) with a Hold rating and a price target of $22.00.

Analyst Michael Baudendistel commented, "We are cautious currently, as valuation appears stretched relative to historical averages and as we expect 2017 will be a challenging year for new truck sales, especially in Class 8 tractors due to equipment excesses, and our expectation that used truck fundamentals may deteriorate further given the steady supply of trucks expected to enter the market. But, Rush may show some stability relative to its peers given its steady parts and service income and a somewhat less cyclical customer base, which may limit downside for the stock. Our 12-month target price is $22 (or 14.0x our 2018 EPS estimate of $1.55)."

For an analyst ratings summary and ratings history on Rush Enterprises Inc. click here. For more ratings news on Rush Enterprises Inc. click here.

Shares of Rush Enterprises Inc. closed at $24.18 yesterday.

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