Rush Enterprises, Inc. (NASDAQ:RUSHA – Get Free Report) CFO Steven Keller sold 1,822 shares of Rush Enterprises stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $81.12, for a total transaction of $147,800.64. Following the sale, the chief financial officer directly owned 84,374 shares in the company, valued at approximately $6,844,418.88. This trade represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Rush Enterprises Price Performance
Shares of NASDAQ RUSHA traded up $1.17 during mid-day trading on Monday, reaching $80.96. The company’s stock had a trading volume of 574,250 shares, compared to its average volume of 490,922. The stock has a 50-day moving average of $72.57 and a two-hundred day moving average of $69.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The stock has a market capitalization of $6.29 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.77 and a beta of 0.87. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $83.50.
Rush Enterprises shares are set to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, August 10th.
Rush Enterprises Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises’s payout ratio is currently 22.89%.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. UBS Group boosted 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. Wolfe Research initiated coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock. Stephens upped their price objective on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. 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, Rush Enterprises presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.
Check Out Our Latest Analysis on RUSHA
Hedge Funds Weigh In On Rush Enterprises
A number of hedge funds have recently modified their holdings of the business. Root Financial Partners LLC increased its position 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 purchasing an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Rush Enterprises by 495.4% during 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 increased its position in shares of Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after acquiring an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Rush Enterprises in the 3rd quarter valued at approximately $34,000. Finally, Allworth Financial LP lifted its holdings in shares of Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.
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.
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