Michael Mcroberts Sells 6,500 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Michael Mcroberts sold 6,500 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $81.44, for a total value of $529,360.00. Following the completion of the transaction, the director directly owned 16,229 shares in the company, valued at approximately $1,321,689.76. This represents a 28.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock traded down $0.96 during trading hours on Wednesday, hitting $81.80. 269,508 shares of the company’s stock traded hands, compared to its average volume of 489,492. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 1.79 and a beta of 0.87. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $83.61. 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 company has a fifty day simple moving average of $73.07 and a 200-day simple moving average of $70.28.

Rush Enterprises’s stock is scheduled to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Equities research analysts anticipate that Rush Enterprises, Inc. will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio is presently 22.89%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RUSHA shares. UBS Group increased their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Stephens boosted their target price on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Wolfe Research started coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target for the company. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.00.

Institutional Trading of Rush Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC lifted its stake in shares of Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings 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 purchasing an additional 431 shares during the last quarter. Private Trust Co. NA boosted its holdings in 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 purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Rush Enterprises in the 3rd quarter worth approximately $34,000. Finally, Allworth Financial LP raised its stake in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Company Profile

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.