Rush Enterprises, Inc. $RUSHA Shares Acquired by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. lifted its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 50.0% during the 3rd quarter, Holdings Channel reports. The firm owned 73,956 shares of the company’s stock after buying an additional 24,652 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Rush Enterprises were worth $3,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Rush Enterprises by 4.1% during the second quarter. State Street Corp now owns 2,430,986 shares of the company’s stock worth $177,426,000 after buying an additional 96,418 shares in the last quarter. Jennison Associates LLC raised its position in Rush Enterprises by 166.4% in the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after purchasing an additional 700,511 shares during the last quarter. Janus Henderson Group PLC raised its position in Rush Enterprises by 83.9% in the 1st quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock valued at $47,920,000 after purchasing an additional 330,553 shares during the last quarter. EULAV Asset Management boosted its stake in Rush Enterprises by 59.7% in the third quarter. EULAV Asset Management now owns 608,071 shares of the company’s stock worth $27,856,000 after purchasing an additional 227,352 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Rush Enterprises by 9.5% in the first quarter. Bank of America Corp DE now owns 566,287 shares of the company’s stock worth $37,437,000 after purchasing an additional 49,009 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group restated a “neutral” rating and set a $56.67 target price (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 21st. Stephens reduced their price target on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rush Enterprises has an average rating of “Hold” and an average price target of $50.26.

Rush Enterprises Price Performance

NASDAQ RUSHA opened at $44.27 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 1.44 and a debt-to-equity ratio of 0.15. Rush Enterprises, Inc. has a 12-month low of $30.45 and a 12-month high of $55.74. The company has a market capitalization of $5.17 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The firm’s 50 day moving average is $47.14 and its 200-day moving average is $36.44.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, October 27th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rush Enterprises had a net margin of 3.70% and a return on equity of 11.91%. Equities research analysts anticipate that Rush Enterprises, Inc. will post 2.43 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 11th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. Rush Enterprises’s dividend payout ratio is presently 24.24%.

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.