Insider Selling: Rush Enterprises (NASDAQ:RUSHA) Director Sells 10,000 Shares of Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Raymond Joseph Chess sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total value of $650,500.00. Following the completion of the transaction, the director directly owned 41,170 shares of the company’s stock, valued at approximately $2,678,108.50. This represents a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rush Enterprises Stock Performance

Rush Enterprises stock traded down $3.01 during mid-day trading on Thursday, reaching $61.60. 597,064 shares of the company’s stock were exchanged, compared to its average volume of 522,081. The business’s fifty day simple moving average is $66.22 and its 200 day simple moving average is $57.91. The firm has a market capitalization of $4.74 billion, a PE ratio of 18.84, a P/E/G ratio of 0.79 and a beta of 0.91. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $75.99. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. On average, sell-side analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 3rd. Rush Enterprises’s payout ratio is 23.24%.

Institutional Investors Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of RUSHA. Farther Finance Advisors LLC boosted its position in shares of Rush Enterprises by 250.0% in the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after acquiring an additional 365 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after acquiring an additional 431 shares during the period. Private Trust Co. NA lifted its stake in Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Rush Enterprises in the 3rd quarter worth approximately $34,000. Finally, Allworth Financial LP boosted its holdings in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after purchasing an additional 637 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RUSHA has been the topic of several research reports. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $80.00 price objective (up from $55.00) on shares of Rush Enterprises in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rush Enterprises has a consensus rating of “Moderate Buy” and an average price target of $76.50.

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.