Rush Enterprises (NASDAQ:RUSHA) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Rush Enterprises (NASDAQ:RUSHA) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other research analysts have also recently commented on RUSHA. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. UBS Group reiterated a “neutral” rating and set a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 2nd. Finally, Stephens raised their target price on Rush Enterprises from $40.00 to $42.22 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rush Enterprises currently has a consensus rating of “Hold” and an average target price of $46.00.

Rush Enterprises Stock Performance

RUSHA stock opened at $50.95 on Friday. Rush Enterprises has a 1 year low of $30.45 and a 1 year high of $55.74. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.56 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The stock’s fifty day moving average is $41.31 and its two-hundred day moving average is $34.54.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. On average, research analysts predict that Rush Enterprises will post 1.66 EPS for the current year.

Rush Enterprises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders 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 yield of 1.1%. Rush Enterprises’s dividend payout ratio (DPR) is presently 23.08%.

Insider Activity at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 5,400 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.02, for a total value of $194,520.00. Following the completion of the transaction, the senior vice president directly owned 28,327 shares in the company, valued at $1,020,401.49. This trade represents a 16.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven L. Keller sold 46,525 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $35.88, for a total transaction of $1,669,317.00. Following the completion of the transaction, the chief financial officer owned 189,841 shares of the company’s stock, valued at $6,811,495.08. This trade represents a 19.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 252,561 shares of company stock worth $9,092,298 in the last 90 days. Corporate insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Rush Enterprises by 33.6% during the 1st quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock valued at $575,000 after purchasing an additional 2,715 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Rush Enterprises by 8.0% in the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in Rush Enterprises by 18.4% during the first quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock valued at $20,851,000 after buying an additional 60,615 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in Rush Enterprises during the first quarter worth about $221,000. 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.