Rush Enterprises (NASDAQ:RUSHA) SVP Sells 2,400 Shares of Stock

Rush Enterprises, Inc. (NASDAQ:RUSHAGet Free Report) SVP Michael Goldstone sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $81.05, for a total transaction of $194,520.00. Following the sale, the senior vice president owned 12,590 shares of the company’s stock, valued at $1,020,419.50. This trade represents a 16.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Rush Enterprises Stock Performance

RUSHA stock traded up $1.17 during midday trading on Monday, reaching $80.96. 574,250 shares of the company’s stock traded hands, compared to its average volume of 490,922. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $83.50. The stock has a market cap of $6.29 billion, a P/E ratio of 24.39, a PEG ratio of 1.77 and a beta of 0.87. The stock’s 50-day moving average is $72.57 and its 200 day moving average is $69.96.

Rush Enterprises shares are scheduled to split on 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 (NASDAQ:RUSHAGet Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. As a group, analysts anticipate that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 annualized dividend and a yield of 0.7%. Rush Enterprises’s payout ratio is 22.89%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wolfe Research began coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target for the company. UBS Group boosted their price objective on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Stephens increased their target price on shares of Rush Enterprises from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

View Our Latest Stock Report on Rush Enterprises

Institutional Investors Weigh In On Rush Enterprises

Institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC raised its holdings in Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. CIBC Private Wealth Group LLC lifted 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 in the last quarter. Private Trust Co. NA boosted its stake 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 worth $29,000 after acquiring an additional 370 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of Rush Enterprises during the third quarter worth about $34,000. Finally, Allworth Financial LP grew 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 purchasing an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

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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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Insider Buying and Selling by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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