Rush Enterprises (NASDAQ:RUSHA) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks reports.

Other equities analysts also recently issued research reports about the company. UBS Group reissued a “neutral” rating and set a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Finally, Stephens boosted their target price on shares of Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.00.

Rush Enterprises Stock Up 1.6%

Shares of NASDAQ RUSHA opened at $50.11 on Wednesday. The firm’s 50-day moving average is $40.56 and its two-hundred day moving average is $34.27. The company has a market capitalization of $5.85 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88. Rush Enterprises has a 12-month low of $30.45 and a 12-month high of $55.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Equities analysts anticipate that Rush Enterprises will post 1.66 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. Shareholders of record on Wednesday, September 9th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 annualized dividend and a yield of 1.1%. Rush Enterprises’s dividend payout ratio (DPR) is 23.08%.

Insider Activity

In other news, SVP Michael Goldstone sold 4,725 shares of Rush Enterprises stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $36.13, for a total transaction of $170,730.00. Following the sale, the senior vice president owned 28,327 shares in the company, valued at $1,023,548.93. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael McRoberts sold 14,625 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $36.20, for a total transaction of $529,360.00. Following the transaction, the director directly owned 36,514 shares in the company, valued at approximately $1,321,644.52. The trade was a 28.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 252,561 shares of company stock worth $9,092,298 over the last three months. Insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of Rush Enterprises by 6,991.9% during the second quarter. California State Teachers Retirement System now owns 5,168,214 shares of the company’s stock worth $377,228,000 after purchasing an additional 5,095,339 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Rush Enterprises by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock valued at $203,618,000 after buying an additional 29,375 shares during the last quarter. State Street Corp raised its stake in Rush Enterprises by 0.3% during the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after buying an additional 6,994 shares in the last quarter. Jennison Associates LLC lifted its holdings in Rush Enterprises by 166.4% during the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after buying an additional 700,511 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its holdings in Rush Enterprises by 20.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock worth $54,613,000 after buying an additional 173,096 shares during the last quarter. 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.