Insider Selling: Rush Enterprises (NASDAQ:RUSHA) CFO Sells $147,800.64 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) CFO Steven Keller sold 1,822 shares of Rush Enterprises stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $81.12, for a total value of $147,800.64. Following the completion of the sale, the chief financial officer owned 84,374 shares of the company’s stock, valued at $6,844,418.88. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rush Enterprises Trading Down 1.2%

NASDAQ RUSHA opened at $81.80 on Thursday. The company has a market cap of $6.36 billion, a P/E ratio of 24.64, a P/E/G ratio of 1.83 and a beta of 0.87. Rush Enterprises, Inc. has a 12 month low of $45.67 and a 12 month high of $83.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The company has a 50-day moving average of $73.26 and a 200-day moving average of $70.43.

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

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share (EPS) 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 the consensus estimate of $1.89 billion. As a group, equities analysts predict that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The business 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 dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. Rush Enterprises’s payout ratio is currently 22.89%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Stephens upped their price target on Rush Enterprises from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Wall Street Zen downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Wolfe Research began coverage on Rush Enterprises in a report on Monday, April 27th. They set an “outperform” rating and a $88.00 target price for the company. Finally, UBS Group increased their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Rush Enterprises presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Institutional Trading of Rush Enterprises

Several large investors have recently added to or reduced their stakes in RUSHA. Dimensional Fund Advisors LP raised its position in 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 lifted its stake in shares of Rush Enterprises by 0.3% during the second quarter. State Street Corp now owns 2,359,238 shares of the company’s stock worth $121,524,000 after purchasing an additional 6,994 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after buying an additional 700,511 shares during the period. Global Alpha Capital Management Ltd. grew its stake in shares of Rush Enterprises by 20.6% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock valued at $54,613,000 after buying an additional 173,096 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its stake in shares of Rush Enterprises by 1.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company’s stock valued at $53,071,000 after buying an additional 14,995 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

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.