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

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $69.00.

RUSHA has been the subject of a number of research analyst reports. UBS Group reiterated a “neutral” rating and issued a $85.00 target price (up from $78.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Stephens lifted their price objective on shares of Rush Enterprises from $60.00 to $63.33 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd.

Insider Activity at Rush Enterprises

In related news, Director Michael Mcroberts sold 9,750 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.29, for a total value of $529,360.00. Following the completion of the sale, the director directly owned 24,343 shares of the company’s stock, valued at $1,321,662.61. The trade was a 28.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael L. Goldstone sold 3,600 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $54.03, for a total value of $194,520.00. Following the transaction, the senior vice president directly owned 18,885 shares in the company, valued at approximately $1,020,419.50. This trade represents a 16.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 168,375 shares of company stock worth $9,092,352 over the last three months. 12.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the company. Root Financial Partners LLC raised its position in shares of Rush Enterprises by 75.4% during 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 grew its position in Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after purchasing an additional 431 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in Rush Enterprises during the 3rd quarter valued at $34,000. Allworth Financial LP increased its stake in Rush Enterprises by 5,790.9% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $76.27 on Monday. The business has a 50-day moving average price of $58.66 and a two-hundred day moving average price of $50.65. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $83.61. 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 market cap of $5.94 billion, a P/E ratio of 22.97, a PEG ratio of 1.69 and a beta of 0.87.

Rush Enterprises’s stock is scheduled to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be distributed to shareholders after the market closes on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. As a group, analysts anticipate that Rush Enterprises will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be paid a $0.14 dividend. 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 payout ratio is 16.87%.

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.