Rush Enterprises (NASDAQ:RUSHA) SVP Sells 2,100 Shares

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael Goldstone sold 2,100 shares of Rush Enterprises stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $81.30, for a total transaction of $170,730.00. Following the sale, the senior vice president directly owned 12,590 shares of the company’s stock, valued at $1,023,567. This represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Rush Enterprises Trading Up 1.5%

Shares of Rush Enterprises stock traded up $1.17 on Monday, hitting $80.96. 574,250 shares of the company’s stock traded hands, compared to its average volume of 490,922. The firm’s 50-day moving average price is $72.57 and its two-hundred day moving average price is $69.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The stock has a market capitalization of $6.29 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $83.50.

Rush Enterprises shares are set to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 10th.

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

Rush Enterprises Cuts Dividend

The business also recently announced 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. The ex-dividend date 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 (DPR) is 22.89%.

Hedge Funds Weigh In On Rush Enterprises

A number of large investors have recently modified their holdings of the business. Root Financial Partners LLC boosted its stake in shares of Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after acquiring an additional 431 shares during the last quarter. Private Trust Co. NA raised its holdings in 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 acquiring an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Rush Enterprises during the third quarter worth about $34,000. Finally, Allworth Financial LP boosted its position in Rush Enterprises by 5,790.9% during the third 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 last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of a number of analyst reports. Wolfe Research assumed coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target on the stock. Wall Street Zen cut 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 raised their price objective on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Rush Enterprises presently has a consensus rating of “Moderate Buy” and a consensus target price 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.