Brokerages Set Rush Enterprises, Inc. (NASDAQ:RUSHA) Price Target at $83.67

Rush Enterprises, Inc. (NASDAQ:RUSHA) has earned an average rating of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $83.6667.

RUSHA has been the topic of a number of recent analyst reports. Zacks Research downgraded Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Stephens reissued an “overweight” rating and set a $85.00 price target on shares of Rush Enterprises in a research report on Tuesday, May 19th. UBS Group boosted their price target on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Wolfe Research initiated coverage on Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th.

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the sale, the director owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

A number of institutional investors have recently made changes to their positions in RUSHA. Jennison Associates LLC boosted its holdings in shares of Rush Enterprises by 166.4% during the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after acquiring an additional 700,511 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Rush Enterprises by 174.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock worth $51,566,000 after acquiring an additional 607,047 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Rush Enterprises during the fourth quarter worth approximately $25,811,000. Millennium Management LLC boosted its holdings in shares of Rush Enterprises by 280.4% during the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after acquiring an additional 398,721 shares during the period. Finally, Cooke & Bieler LP boosted its holdings in shares of Rush Enterprises by 85.0% during the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after acquiring an additional 335,019 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Price Performance

NASDAQ:RUSHA opened at $70.61 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The stock’s 50-day simple moving average is $70.60 and its 200 day simple moving average is $66.06. The company has a market cap of $5.49 billion, a P/E ratio of 21.33, a P/E/G ratio of 1.49 and a beta of 0.89. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $76.99.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. As a group, sell-side analysts forecast that Rush Enterprises will post 3.79 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s payout ratio is 22.96%.

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.