Michael Mcroberts Sells 6,500 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Michael Mcroberts sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $81.44, for a total value of $529,360.00. Following the transaction, the director owned 16,229 shares of the company’s stock, valued at $1,321,689.76. This represents a 28.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rush Enterprises Stock Down 2.5%

Shares of RUSHA opened at $79.73 on Friday. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $83.61. The business’s 50 day simple moving average is $73.43 and its 200-day simple moving average is $70.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38.

Shares of Rush Enterprises are going to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. 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, equities analysts expect that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders 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 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio (DPR) is presently 16.87%.

Institutional Trading of Rush Enterprises

Several institutional investors have recently added to or reduced their stakes in RUSHA. Root Financial Partners LLC raised its holdings in shares of Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after acquiring an additional 431 shares during the period. Private Trust Co. NA grew its position in Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after acquiring an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Rush Enterprises in the third quarter worth $34,000. Finally, Allworth Financial LP increased its stake in Rush Enterprises by 5,790.9% in the third 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.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Wolfe Research initiated coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target for the company. UBS Group boosted their price objective on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.00.

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.