Rush Enterprises, Inc. (NASDAQ:RUSHA) Receives $83.67 Average Price Target from Analysts

Rush Enterprises, Inc. (NASDAQ:RUSHA) has earned an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $83.6667.

Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group upped their price objective on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Wolfe Research started coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price on the stock.

Rush Enterprises Stock Up 4.6%

RUSHA opened at $79.66 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. The business has a 50-day moving average of $70.92 and a two-hundred day moving average of $68.29. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $79.88.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. On average, research analysts expect that Rush Enterprises will post 3.79 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.76 annualized dividend and a yield of 1.0%. Rush Enterprises’s dividend payout ratio is currently 22.96%.

Insider Activity at Rush Enterprises

In other news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director directly owned 16,229 shares of the company’s stock, valued at $1,172,220.67. The trade was a 33.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.68% of the stock is currently owned by company insiders.

Institutional Trading of Rush Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of RUSHA. Jennison Associates LLC raised its holdings in Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after buying an additional 700,511 shares during the period. Goldman Sachs Group Inc. grew its stake in 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 buying an additional 607,047 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Rush Enterprises in the fourth quarter worth $25,811,000. Millennium Management LLC increased its position in shares of Rush Enterprises by 280.4% in 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 in the last quarter. Finally, Cooke & Bieler LP raised its stake in shares of Rush Enterprises by 85.0% in the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after acquiring an additional 335,019 shares during the period. Institutional investors and hedge funds 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.