11,057 Shares in Rush Enterprises, Inc. $RUSHA Bought by Inceptionr LLC

Inceptionr LLC acquired a new stake in Rush Enterprises, Inc. (NASDAQ:RUSHAFree Report) during the 1st quarter, Holdings Channel reports. The fund acquired 11,057 shares of the company’s stock, valued at approximately $731,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC increased its holdings in 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 purchasing an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of 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. Private Trust Co. NA lifted its holdings in shares of Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises in the third quarter valued at about $34,000. Finally, Allworth Financial LP boosted its position in shares of Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after buying an additional 637 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RUSHA shares. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Stephens restated an “overweight” rating and issued a $85.00 target price on shares of Rush Enterprises in a research note on Tuesday, May 19th. Wall Street Zen downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Wolfe Research assumed coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 price target for the company. Finally, UBS Group raised their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Check Out Our Latest Analysis on RUSHA

Rush Enterprises Trading Up 0.3%

Rush Enterprises stock opened at $76.57 on Friday. The firm has a 50-day moving average of $71.54 and a 200-day moving average of $69.11. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $80.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 1.69 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHAGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. On average, equities analysts expect that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 annualized dividend and a yield of 1.0%. Rush Enterprises’s dividend payout ratio is 22.96%.

Insiders Place Their Bets

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the transaction, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. This trade represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.68% of the stock is currently owned by corporate insiders.

Rush Enterprises Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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