Rush Enterprises, Inc. (NASDAQ:RUSHA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) have received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $69.00.

A number of equities analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating and issued a $85.00 target price (up from $78.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Finally, Stephens lifted their target price on shares of Rush Enterprises from $60.00 to $63.33 and gave the stock an “overweight” rating in a research report on Thursday, July 30th.

Insider Buying and Selling at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 3,150 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.20, for a total transaction of $170,730.00. Following the completion of the transaction, the senior vice president directly owned 18,885 shares of the company’s stock, valued at $1,023,567. This trade represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven L. Keller sold 31,017 shares of Rush Enterprises stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $53.82, for a total value of $1,669,334.94. Following the transaction, the chief financial officer directly owned 126,561 shares in the company, valued at $6,811,513.02. The trade was a 19.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 168,375 shares of company stock worth $9,092,352. Company insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC boosted its holdings 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 acquiring an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC raised 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 worth $28,000 after purchasing an additional 431 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in Rush Enterprises during the 3rd quarter worth approximately $34,000. Allworth Financial LP lifted its position 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 worth $35,000 after purchasing an additional 637 shares during the period. Finally, EverSource Wealth Advisors LLC lifted 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 purchasing an additional 633 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Performance

Shares of Rush Enterprises stock opened at $76.27 on Monday. The company’s 50 day moving average price is $58.66 and its two-hundred day moving average price is $50.65. The firm has a market capitalization of $5.94 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.69 and a beta of 0.87. Rush Enterprises has a fifty-two week low of $45.67 and a fifty-two week 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.

Rush Enterprises shares are going to split on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be payable to shareholders after the closing bell on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. On average, equities analysts forecast that Rush Enterprises will post 3.75 earnings per share for the current fiscal 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 issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises’s payout ratio is 16.87%.

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.