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

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) are scheduled 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 distributed to shareholders after the closing bell on Monday, August 31st.

Rush Enterprises Price Performance

RUSHA opened at $78.78 on Monday. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.74 and a beta of 0.87. The company has a quick ratio of 0.38, a current ratio of 1.45 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $55.60 and a 200-day moving average price of $49.59. Rush Enterprises has a twelve month low of $45.67 and a twelve month high of $83.61.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities 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. Investors of record on Wednesday, September 9th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises’s payout ratio is currently 22.89%.

Wall Street Analysts Forecast Growth

RUSHA has been the topic of several recent research reports. UBS Group increased their target price on Rush Enterprises from $48.67 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Stephens raised their price objective on shares of Rush Enterprises from $60.00 to $63.33 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Wolfe Research began coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $58.67 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Rush Enterprises 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 3,600 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $54.03, for a total transaction of $194,520.00. Following the transaction, the senior vice president directly owned 18,885 shares in the company, valued at approximately $1,020,419.50. This represents a 16.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Mcroberts sold 9,750 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $54.29, for a total value of $529,360.00. Following the transaction, the director directly owned 24,343 shares in the company, valued at approximately $1,321,662.61. This represents a 28.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 168,375 shares of company stock valued at $9,092,352 over the last quarter. 12.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Root Financial Partners LLC lifted its holdings in shares of Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after purchasing an additional 431 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Rush Enterprises during the 3rd quarter valued at $34,000. Allworth Financial LP raised its position in 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 raised its position in 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 owned by hedge funds and other institutional investors.

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.