Rush Enterprises, Inc. (NASDAQ:RUSHA) Receives $83.67 Average Price Target from Brokerages

Rush Enterprises, Inc. (NASDAQ:RUSHA) has earned an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $83.6667.

Several brokerages have weighed in on RUSHA. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Finally, UBS Group raised their target price on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th.

Insider Buying and Selling at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director directly owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.68% of the company’s stock.

Institutional Trading of Rush Enterprises

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Rush Enterprises by 33.6% in the 1st quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock worth $575,000 after purchasing an additional 2,715 shares in the last quarter. AQR Capital Management LLC increased its position in Rush Enterprises by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock valued at $1,309,000 after buying an additional 1,806 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rush Enterprises by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock valued at $1,935,000 after buying an additional 1,592 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rush Enterprises by 18.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock worth $20,851,000 after acquiring an additional 60,615 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in Rush Enterprises in the first quarter worth $221,000. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Down 3.5%

Shares of NASDAQ:RUSHA opened at $76.89 on Friday. The stock’s 50-day moving average price is $71.02 and its 200-day moving average price is $68.35. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $80.17. The stock has a market capitalization of $5.98 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.73 billion. On average, equities analysts anticipate that Rush Enterprises will post 3.75 earnings per share for the current year.

Rush Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises’s dividend payout ratio is presently 22.96%.

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.