Rush Enterprises, Inc. (NASDAQ:RUSHA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Rush Enterprises, Inc. (NASDAQ:RUSHA) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $87.00.

Several research firms recently commented on RUSHA. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. UBS Group upped their target price on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Stephens increased their target price on Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target for the company.

Insider Activity at Rush Enterprises

In related news, CFO Steven L. Keller sold 20,678 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $80.73, for a total value of $1,669,334.94. Following the completion of the sale, the chief financial officer directly owned 84,374 shares of the company’s stock, valued at $6,811,513.02. The trade was a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William M. Rusty Rush sold 71,574 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $81.05, for a total value of $5,801,072.70. Following the sale, the chief executive officer owned 174,154 shares in the company, valued at $14,115,181.70. The trade was a 29.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,250 shares of company stock worth $9,092,352 over the last quarter. Company insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC boosted its holdings in Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares during the period. Private Trust Co. NA raised its holdings in shares of Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of Rush Enterprises in the 3rd quarter worth about $34,000. Finally, Allworth Financial LP lifted its position in shares of Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after buying an additional 637 shares during the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Price Performance

RUSHA opened at $81.80 on Thursday. Rush Enterprises has a twelve month low of $45.67 and a twelve month high of $83.61. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 1.83 and a beta of 0.87. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $73.26 and a 200 day simple moving average of $70.43.

Rush Enterprises’s stock is going to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities research analysts expect that Rush Enterprises will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.89%.

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.