Rush Enterprises (NASDAQ:RUSHA) Stock to Split on Tuesday, September 1st

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares are going to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly issued shares will be distributed to shareholders after the market closes on Monday, August 31st.

Rush Enterprises Trading Down 0.5%

Shares of RUSHA opened at $76.62 on Friday. Rush Enterprises has a one year low of $45.67 and a one year high of $83.61. The stock has a 50-day moving average price of $58.07 and a 200 day moving average price of $50.44. 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 market capitalization of $5.96 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.70 and a beta of 0.87.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Sell-side analysts forecast that Rush Enterprises will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on RUSHA shares. 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. UBS Group reissued a “neutral” rating and issued a $85.00 target price (up from $78.00) on shares of Rush Enterprises in a research report on Tuesday. Stephens upped their target price on shares of Rush Enterprises from $60.00 to $63.33 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.00.

Insider Transactions at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 3,150 shares of the firm’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 transaction, the senior vice president directly owned 18,885 shares in the company, valued at $1,023,567. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven L. Keller sold 31,017 shares of Rush Enterprises stock in a transaction on Friday, July 31st. The stock was sold at an average price of $53.82, for a total transaction of $1,669,334.94. Following the completion of the transaction, the chief financial officer directly owned 126,561 shares of the company’s stock, valued at approximately $6,811,513.02. This represents a 19.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 168,375 shares of company stock valued at $9,092,352. 12.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in shares of Rush Enterprises by 6,991.9% in the 2nd quarter. California State Teachers Retirement System now owns 5,168,214 shares of the company’s stock valued at $377,228,000 after buying an additional 5,095,339 shares during the period. Dimensional Fund Advisors LP raised its stake in Rush Enterprises by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock worth $203,618,000 after acquiring an additional 29,375 shares during the period. State Street Corp lifted its holdings in Rush Enterprises by 0.3% in the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock worth $121,524,000 after acquiring an additional 6,994 shares during the last quarter. Jennison Associates LLC lifted its holdings in Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after acquiring an additional 700,511 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its stake in Rush Enterprises by 20.6% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock valued at $54,613,000 after acquiring an additional 173,096 shares during the period. 84.43% of the stock is currently owned by 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.