Rush Enterprises (NASDAQ:RUSHA) Stock to Split on Tuesday, September 1st

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) are going to split on the morning of Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly created shares will be issued to shareholders after the closing bell on Monday, August 31st.

Rush Enterprises Stock Performance

Rush Enterprises stock opened at $78.33 on Thursday. 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 50-day moving average of $54.34 and a 200-day moving average of $49.11. The firm has a market cap of $6.10 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.76 and a beta of 0.87. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $83.61.

Rush Enterprises (NASDAQ:RUSHA) last posted its 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 return on equity of 11.65% and a net margin of 3.67%.The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Sell-side analysts expect that Rush Enterprises will post 3.75 EPS for the current 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 issued a $0.14 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 annualized dividend and a yield of 0.7%. Rush Enterprises’s dividend payout ratio (DPR) is 22.89%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RUSHA. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. UBS Group raised their price target on Rush Enterprises from $48.67 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wolfe Research initiated coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $58.67 price target on the stock. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Insider Transactions at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 3,150 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $54.20, for a total value of $170,730.00. Following the completion of the transaction, the senior vice president owned 18,885 shares in the company, valued at $1,023,567. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William M. Rusty Rush sold 107,361 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $54.03, for a total value of $5,801,072.70. Following the completion of the transaction, the chief executive officer owned 261,231 shares of the company’s stock, valued at approximately $14,115,181.70. The trade was a 29.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 168,375 shares of company stock valued at $9,092,352. Insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC lifted its position in Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA lifted its position in Rush Enterprises by 211.4% during 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 period. Measured Wealth Private Client Group LLC bought a new stake in Rush Enterprises during the third quarter worth about $34,000. Finally, Allworth Financial LP boosted its stake in Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

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.