Rush Enterprises, Inc. (NASDAQ:RUSHA) Receives Average Rating of “Hold” from Brokerages

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $46.00.

A number of equities research analysts recently weighed in on the stock. UBS Group restated a “neutral” rating and set a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a research note on Tuesday, August 25th. Zacks Research cut shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Stephens increased their price objective on shares of Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday.

Rush Enterprises Stock Up 1.7%

RUSHA stock opened at $50.95 on Monday. The stock has a market cap of $5.95 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.52 and a beta of 0.88. The firm’s 50-day simple moving average is $40.93 and its 200 day simple moving average is $34.38. Rush Enterprises has a fifty-two week low of $30.45 and a fifty-two week high of $55.74. The company has a quick ratio of 0.38, a current ratio of 1.45 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. As a group, sell-side analysts predict that Rush Enterprises will post 1.66 EPS for the current 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 paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s payout ratio is currently 23.08%.

Insider Buying and Selling at Rush Enterprises

In related news, SVP Michael Goldstone sold 5,400 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.02, for a total transaction of $194,520.00. Following the completion of the sale, the senior vice president directly owned 28,327 shares in the company, valued at approximately $1,020,401.49. This trade represents a 16.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Rush sold 161,041 shares of Rush Enterprises stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $36.02, for a total transaction of $5,801,054.69. Following the completion of the transaction, the chief executive officer owned 391,846 shares in the company, valued at approximately $14,115,163.69. 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 quarter, insiders have sold 252,561 shares of company stock worth $9,092,298. Company insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

A number of large investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its position in Rush Enterprises by 6,991.9% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 29,375 shares during the period. State Street Corp boosted its holdings in shares of Rush Enterprises by 0.3% during the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock worth $121,524,000 after buying an additional 6,994 shares during the period. Jennison Associates LLC grew its stake in Rush Enterprises by 166.4% in the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after buying an additional 700,511 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. raised its holdings in Rush Enterprises by 20.6% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock worth $54,613,000 after acquiring an additional 173,096 shares during the period. Institutional investors and hedge funds own 84.43% of the company’s stock.

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.