Report
Nick Mokha
EUR 101.80 For Business Accounts Only

Rush Enterprises' breadth and size garner new opportunities to propel forward.

We are initiating coverage of Rush Enterprises at a fair value estimate of $46 per share and a stable no-moat rating. Over several decades, management has amassed a 100-dealership empire across the U.S. in an integrated format that sells, leases, and services trucks; the company’s wide geographic coverage, number of dealerships, and array of services has positioned the company to sell to a wider variety of customers than its peers. In fact, today, Rush sells around 5% of U.S. Class 4-8 trucks, b...
Underlying
Rush Enterprises Inc. Class A

Rush Enterprises is a retailer of commercial vehicles and related services. The Truck Segment includes the company's operation of network of commercial vehicle dealerships under the name Rush Truck Centers. Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, Mitsubishi Fuso, IC Bus or Blue Bird. Through its network of Rush Truck Centers, the company provides one-stop service for the needs of its commercial vehicle customers, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Nick Mokha

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