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

Zacks Research downgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on RUSHA. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. UBS Group reiterated a “neutral” rating and set a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Finally, Stephens restated an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.50.

Rush Enterprises Stock Performance

RUSHA stock opened at $73.74 on Tuesday. Rush Enterprises has a 1 year low of $45.67 and a 1 year high of $75.99. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.46 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.40. The stock’s fifty day moving average is $68.68 and its two-hundred day moving average is $60.15.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. On average, research analysts predict that Rush Enterprises will post 3.81 EPS for the current year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, March 3rd. Rush Enterprises’s payout ratio is presently 23.24%.

Insider Buying and Selling at Rush Enterprises

In other news, SVP Jody Pollard sold 11,250 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $71.92, for a total transaction of $809,100.00. Following the sale, the senior vice president directly owned 3,385 shares of the company’s stock, valued at $243,449.20. The trade was a 76.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total value of $323,370.00. Following the completion of the transaction, the senior vice president owned 12,590 shares of the company’s stock, valued at $904,717.40. This trade represents a 26.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,750 shares of company stock valued at $2,349,450 in the last ninety days. 12.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Enterprises

Several hedge funds have recently made changes to their positions in RUSHA. Kestra Advisory Services LLC raised its stake in Rush Enterprises by 1.1% during the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock valued at $966,000 after purchasing an additional 200 shares during the period. California State Teachers Retirement System increased its stake in Rush Enterprises by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after buying an additional 208 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Rush Enterprises by 8.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company’s stock worth $159,000 after acquiring an additional 219 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Rush Enterprises by 44.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock worth $40,000 after acquiring an additional 230 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Rush Enterprises by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company’s stock valued at $1,897,000 after purchasing an additional 251 shares during the last quarter. Hedge funds and other 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.