Rush Enterprises Sees Unusually High Options Volume (RUSHA)

Rush Enterprises, Inc. (NASDAQ:RUSHA) was the recipient of unusually large options trading on Tuesday. Stock investors bought 794 call options on the stock. This is an increase of approximately 931% compared to the typical volume of 77 call options.

Shares of Rush Enterprises (RUSHA) opened at $52.33 on Friday. The stock has a market capitalization of $2,110.00, a PE ratio of 27.11, a PEG ratio of 1.41 and a beta of 1.17. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 0.55. Rush Enterprises has a 12-month low of $30.74 and a 12-month high of $54.37.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.25. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Rush Enterprises had a return on equity of 8.82% and a net margin of 1.74%. sell-side analysts forecast that Rush Enterprises will post 2.17 earnings per share for the current year.

Rush Enterprises declared that its board has initiated a stock buyback plan on Thursday, November 30th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

A number of brokerages recently issued reports on RUSHA. Seaport Global Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Rush Enterprises in a research report on Wednesday. ValuEngine raised Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. BidaskClub lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Stifel Nicolaus raised their target price on Rush Enterprises from $41.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $50.00 target price (up from $42.00) on shares of Rush Enterprises in a research report on Monday, October 30th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.00.

In related news, SVP James E. Thor sold 24,200 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $48.70, for a total value of $1,178,540.00. Following the sale, the senior vice president now directly owns 39,032 shares in the company, valued at $1,900,858.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Anderson sold 12,144 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $50.76, for a total value of $616,429.44. Following the completion of the sale, the senior vice president now owns 3,600 shares in the company, valued at $182,736. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,982 shares of company stock valued at $3,747,332. Insiders own 11.19% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Rush Enterprises by 8.5% during the second quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock valued at $109,302,000 after purchasing an additional 230,463 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Rush Enterprises by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,618,857 shares of the company’s stock valued at $121,227,000 after purchasing an additional 48,762 shares in the last quarter. Northern Trust Corp boosted its position in shares of Rush Enterprises by 7.5% during the second quarter. Northern Trust Corp now owns 989,043 shares of the company’s stock valued at $36,773,000 after purchasing an additional 69,015 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Rush Enterprises by 17.4% during the second quarter. JPMorgan Chase & Co. now owns 799,150 shares of the company’s stock valued at $29,712,000 after purchasing an additional 118,386 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Rush Enterprises by 6.7% during the third quarter. Westfield Capital Management Co. LP now owns 771,376 shares of the company’s stock valued at $35,707,000 after purchasing an additional 48,737 shares in the last quarter. 76.27% of the stock is currently owned by hedge funds and other institutional investors.

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About Rush Enterprises

Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

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