Rush Enterprises (NASDAQ:RUSHA) Stock Price Down 5.1% – Here’s What Happened

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) were down 5.1% on Wednesday. The stock traded as low as $43.66 and last traded at $43.17. Approximately 43,025 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 703,103 shares. The stock had previously closed at $45.48.

Analyst Ratings Changes

Several research analysts have issued reports on RUSHA shares. UBS Group restated a “neutral” rating and set a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 21st. Stephens raised their price objective on shares of Rush Enterprises from $40.00 to $42.22 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 2nd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rush Enterprises currently has an average rating of “Hold” and an average price target of $46.00.

Rush Enterprises Stock Performance

The stock has a market cap of $4.90 billion, a PE ratio of 18.95 and a beta of 0.92. The business has a 50 day moving average price of $48.03 and a two-hundred day moving average price of $36.00.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, October 27th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.05 billion. As a group, research analysts anticipate that Rush Enterprises, Inc. will post 2.43 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 11th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 11th. This represents a $0.56 annualized dividend and a yield of 1.3%. Rush Enterprises’s dividend payout ratio (DPR) is 25.34%.

Insider Buying and Selling at Rush Enterprises

In related news, CEO William Rush sold 161,041 shares of Rush Enterprises stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $36.02, for a total value of $5,801,054.69. Following the completion of the transaction, the chief executive officer directly owned 391,846 shares in the company, valued at approximately $14,115,163.69. The trade was a 29.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael McRoberts sold 14,625 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.20, for a total transaction of $529,360.00. Following the sale, the director directly owned 36,514 shares in the company, valued at $1,321,644.52. The trade was a 28.60% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 252,561 shares of company stock worth $9,092,298. 12.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Enterprises

Large investors have recently added to or reduced their stakes in the business. Transmarket Holdings LP bought a new stake in shares of Rush Enterprises in the 3rd quarter worth approximately $5,288,000. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Rush Enterprises by 62.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,207 shares of the company’s stock valued at $55,000 after purchasing an additional 463 shares during the last quarter. EULAV Asset Management grew its holdings in shares of Rush Enterprises by 59.7% during the 3rd quarter. EULAV Asset Management now owns 608,071 shares of the company’s stock valued at $27,856,000 after purchasing an additional 227,352 shares during the last quarter. Brucke Financial Inc. raised its position in Rush Enterprises by 65.2% in the 3rd quarter. Brucke Financial Inc. now owns 4,767 shares of the company’s stock worth $218,000 after purchasing an additional 1,882 shares during the period. Finally, Signaturefd LLC raised its position in Rush Enterprises by 266.3% in the 3rd quarter. Signaturefd LLC now owns 2,575 shares of the company’s stock worth $118,000 after purchasing an additional 1,872 shares during the period. Institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.