Rush Enterprises, Inc. (NASDAQ:RUSHA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $58.00.

A number of brokerages have recently issued reports on RUSHA. Wolfe Research assumed coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $58.67 price objective for the company. Stephens boosted their target price on shares of Rush Enterprises from $60.00 to $63.33 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group upped their target price on shares of Rush Enterprises from $48.67 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th.

Rush Enterprises Stock Down 1.2%

Shares of Rush Enterprises stock opened at $80.63 on Thursday. The stock has a market capitalization of $6.27 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $83.61. 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 company has a 50-day simple moving average of $50.74 and a two-hundred day simple moving average of $47.74.

Shares of Rush Enterprises are going to split on Tuesday, September 1st. The 3-2 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, July 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. On average, analysts anticipate that Rush Enterprises 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. Investors of record on Wednesday, September 9th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio is 16.87%.

Insiders Place Their Bets

In related news, SVP Michael L. Goldstone sold 3,150 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.20, for a total transaction of $170,730.00. Following the completion of the transaction, the senior vice president owned 18,885 shares in the company, valued at $1,023,567. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William M. Rusty Rush sold 107,361 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $54.03, for a total value of $5,801,072.70. Following the completion of the transaction, the chief executive officer directly owned 261,231 shares in the company, valued at $14,115,181.70. This trade represents a 29.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 168,375 shares of company stock valued at $9,092,352. Corporate insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC increased its position in shares of Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the period. CIBC Private Wealth Group LLC grew its stake in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares in the last quarter. Private Trust Co. NA grew its stake 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 in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Rush Enterprises during the 3rd quarter worth $34,000. Finally, Allworth Financial LP increased its holdings in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares during the period. Institutional investors own 84.43% of the company’s stock.

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.