Rush Enterprises (NASDAQ:RUSHA) Director Michael Mcroberts Sells 6,500 Shares of Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Michael Mcroberts sold 6,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $81.44, for a total transaction of $529,360.00. Following the sale, the director directly owned 16,229 shares of the company’s stock, valued at $1,321,689.76. This represents a 28.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Rush Enterprises Stock Down 1.2%

Shares of NASDAQ RUSHA opened at $81.80 on Thursday. The company has a market capitalization of $6.36 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $83.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The company’s 50 day moving average price is $73.26 and its 200-day moving average price is $70.43.

Rush Enterprises’s stock is set to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly created 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, topping the consensus estimate of $0.86 by $0.05. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Equities analysts forecast that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. Rush Enterprises’s dividend payout ratio is 22.89%.

Institutional Investors Weigh In On Rush Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC grew its stake in shares of Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA grew its stake in Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after acquiring an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises during the third quarter valued at approximately $34,000. Finally, Allworth Financial LP raised its position in shares of Rush Enterprises by 5,790.9% during 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. 84.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wolfe Research initiated coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective for the company. 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. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.00.

About Rush Enterprises

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.