Rush Enterprises, Inc. (NASDAQ:RUSHA – Get Free Report) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $38.14 and traded as high as $45.66. Rush Enterprises shares last traded at $45.06, with a volume of 400,380 shares changing hands.
Wall Street Analysts Forecast Growth
RUSHA has been the subject of several research analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a research note on Tuesday, August 25th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 2nd. Stephens upped their target price on Rush Enterprises from $40.00 to $42.22 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. 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 equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.00.
Get Our Latest Research Report on Rush Enterprises
Rush Enterprises Trading Up 0.7%
The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The firm’s fifty day moving average is $48.86 and its two-hundred day moving average is $38.26. The firm has a market capitalization of $5.39 billion, a PE ratio of 20.86, a PEG ratio of 1.62 and a beta of 0.92.
Rush Enterprises (NASDAQ:RUSHA – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. 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 analyst estimates of $1.89 billion. On average, equities analysts predict that Rush Enterprises, Inc. will post 2.43 EPS for the current fiscal year.
Rush Enterprises Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Wednesday, September 9th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This is a negative change from Rush Enterprises’s previous quarterly dividend of $0.19. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. Rush Enterprises’s dividend payout ratio (DPR) is 25.34%.
Insiders Place Their Bets
In other Rush Enterprises news, Director Michael McRoberts sold 14,625 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.20, for a total value of $529,360.00. Following the completion of the transaction, the director owned 36,514 shares in the company, valued at $1,321,644.52. This represents a 28.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William M. Rusty Rush sold 161,041 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.02, for a total value of $5,801,054.69. Following the sale, the chief executive officer directly owned 391,846 shares of the company’s stock, valued at approximately $14,115,163.69. This represents a 29.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 252,561 shares of company stock valued at $9,092,298. 12.68% of the stock is owned by insiders.
Institutional Investors Weigh In On Rush Enterprises
Hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new position in shares of Rush Enterprises in the fourth quarter worth $776,000. Granite Investment Partners LLC raised its stake in shares of Rush Enterprises by 124.1% during the 1st quarter. Granite Investment Partners LLC now owns 143,619 shares of the company’s stock valued at $9,495,000 after purchasing an additional 79,535 shares during the period. Janus Henderson Group PLC raised its stake in shares of Rush Enterprises by 83.9% during 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 period. Leith Wheeler Investment Counsel Ltd. bought a new stake in shares of Rush Enterprises during the 1st quarter valued at $3,655,000. Finally, SEB Asset Management AB purchased a new stake in Rush Enterprises during the 1st quarter worth about $11,286,000. 84.43% of the stock is currently owned by institutional investors.
Rush Enterprises Company Profile
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.
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