Rush Enterprises (NASDAQ:RUSHA) Stock Price Down 5.1% – Here’s What Happened

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) fell 5.1% during trading on Wednesday. The stock traded as low as $43.66 and last traded at $43.17. Approximately 43,025 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 703,103 shares. The stock had previously closed at $45.48.

Analyst Ratings Changes

RUSHA has been the topic of several recent analyst reports. Zacks Research downgraded shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 2nd. Stephens lifted 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. UBS Group restated 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 cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a research report on Wednesday, October 21st. Three 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.00.

Rush Enterprises Trading Down 7.6%

The business’s fifty day simple moving average is $48.03 and its 200 day simple moving average is $36.00. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 18.95 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.05 billion. As a group, research analysts anticipate that Rush Enterprises, Inc. will post 2.43 earnings per share for the current year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 11th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 11th. Rush Enterprises’s payout ratio is presently 25.34%.

Insiders Place Their Bets

In other news, Director Michael McRoberts sold 14,625 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.20, for a total value of $529,360.00. Following the sale, the director owned 36,514 shares of the company’s stock, valued at $1,321,644.52. The trade was a 28.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William M. Rusty Rush sold 161,041 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were 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 directly owned 391,846 shares of the company’s stock, valued at $14,115,163.69. This represents a 29.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 252,561 shares of company stock valued at $9,092,298 in the last quarter. 12.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds have recently added to or reduced their stakes in the stock. Transmarket Holdings LP acquired a new stake in shares of Rush Enterprises in the 3rd quarter valued at $5,288,000. Pinnacle Wealth Planning Services Inc. increased its position in Rush Enterprises by 62.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,207 shares of the company’s stock worth $55,000 after purchasing an additional 463 shares in the last quarter. EULAV Asset Management increased its position in Rush Enterprises by 59.7% during the 3rd quarter. EULAV Asset Management now owns 608,071 shares of the company’s stock worth $27,856,000 after purchasing an additional 227,352 shares in the last quarter. Brucke Financial Inc. grew its stake in shares of Rush Enterprises by 65.2% during the third quarter. Brucke Financial Inc. now owns 4,767 shares of the company’s stock worth $218,000 after buying an additional 1,882 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Rush Enterprises by 266.3% in the 3rd quarter. Signaturefd LLC now owns 2,575 shares of the company’s stock worth $118,000 after purchasing an additional 1,872 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.