Rush Enterprises (NASDAQ:RUSHA) Hits New 12-Month High – Here’s Why

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $65.61 and last traded at $65.73, with a volume of 49740 shares trading hands. The stock had previously closed at $64.72.

Analyst Ratings Changes

Several research firms have recently weighed in on RUSHA. Stephens dropped their price objective on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research note on Thursday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Rush Enterprises currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Rush Enterprises Price Performance

The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $4.86 billion, a P/E ratio of 18.72, a PEG ratio of 0.80 and a beta of 0.92. The company has a fifty day simple moving average of $55.85 and a two-hundred day simple moving average of $54.48.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Wednesday, November 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.55%.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Rush Enterprises by 250.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after acquiring an additional 365 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after purchasing an additional 431 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Rush Enterprises in the third quarter worth $34,000. Allworth Financial LP raised its holdings in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after purchasing an additional 633 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.