Rush Enterprises (NASDAQ:RUSHA) Reaches New 12-Month High – Here’s Why

Rush Enterprises, Inc. (NASDAQ:RUSHA) hit a new 52-week high on Friday . The company traded as high as $74.44 and last traded at $74.51, with a volume of 14496 shares. The stock had previously closed at $73.72.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Weiss Ratings downgraded shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 10th. Stephens reaffirmed an “overweight” rating and set a $80.00 price target (up from $55.00) on shares of Rush Enterprises in a research report on Thursday. UBS Group reissued a “neutral” rating and issued a $73.00 price objective (up previously from $70.00) on shares of Rush Enterprises in a report on Wednesday. Finally, Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.50.

Rush Enterprises Stock Up 0.5%

The firm has a 50 day moving average of $62.15 and a two-hundred day moving average of $56.56. The company has a quick ratio of 0.34, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 0.88 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. As a group, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Tuesday, March 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 3rd. Rush Enterprises’s payout ratio is 22.55%.

Institutional Trading of Rush Enterprises

Several institutional investors have recently added to or reduced their stakes in RUSHA. Farther Finance Advisors LLC raised its holdings in Rush Enterprises by 250.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after purchasing an additional 365 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Rush Enterprises by 495.4% in 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. Private Trust Co. NA increased its position in shares of Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after buying an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Rush Enterprises during the third quarter worth $34,000. Finally, Allworth Financial LP lifted its holdings in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares during the period. 84.43% of the stock is currently owned by institutional investors.

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.