Rush Enterprises (NASDAQ:RUSHA) SVP Sells $194,520.00 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael Goldstone sold 2,400 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $81.05, for a total value of $194,520.00. Following the transaction, the senior vice president owned 12,590 shares of the company’s stock, valued at $1,020,419.50. This trade represents a 16.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Rush Enterprises Price Performance

Shares of RUSHA opened at $81.80 on Thursday. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $83.61. The stock’s fifty day moving average is $73.26 and its 200-day moving average is $70.43.

Rush Enterprises’s stock is scheduled to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Equities analysts anticipate that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be given 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 22.89%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RUSHA shares. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Wolfe Research began coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price for the company. UBS Group increased their price target on Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Hedge Funds Weigh In On Rush Enterprises

Several large investors have recently made changes to their positions in RUSHA. Root Financial Partners LLC grew its stake 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 purchasing an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Rush Enterprises by 495.4% during the third 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. Private Trust Co. NA lifted its stake in Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Rush Enterprises during the third quarter worth approximately $34,000. Finally, Allworth Financial LP boosted its holdings 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 buying an additional 637 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

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.