Rush Enterprises (NASDAQ:RUSHA) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Rush Enterprises (NASDAQ:RUSHA) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also commented on RUSHA. Stephens raised their target price on shares of Rush Enterprises from $40.00 to $42.22 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Zacks Research cut Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday. UBS Group restated a “neutral” rating and set a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Finally, Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Three 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Rush Enterprises Stock Up 1.7%

Shares of RUSHA opened at $50.95 on Friday. The firm has a fifty day moving average price of $40.93 and a 200-day moving average price of $34.38. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5.95 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.56 and a beta of 0.88. Rush Enterprises has a 12-month low of $30.45 and a 12-month high of $55.74.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities research analysts expect that Rush Enterprises will post 1.66 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The firm 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 $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio is presently 23.08%.

Insider Buying and Selling at Rush Enterprises

In related news, CFO Steven Keller sold 46,525 shares of Rush Enterprises stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $35.88, for a total transaction of $1,669,317.00. Following the transaction, the chief financial officer directly owned 189,841 shares of the company’s stock, valued at $6,811,495.08. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael McRoberts sold 14,625 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 36,514 shares of the company’s stock, valued at $1,321,644.52. This trade represents a 28.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 252,561 shares of company stock valued at $9,092,298 in the last ninety days. Company insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

A number of hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC grew its stake in Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after buying an additional 431 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises in the 3rd quarter valued at about $34,000. Allworth Financial LP boosted its holdings in shares of Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Rush Enterprises by 427.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other 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.