Rush Enterprises (NASDAQ:RUSHA) CEO Sells $5,801,072.70 in Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) CEO William Rusty Rush sold 71,574 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $81.05, for a total value of $5,801,072.70. Following the sale, the chief executive officer directly owned 174,154 shares in the company, valued at approximately $14,115,181.70. This represents a 29.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $81.80 on Thursday. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 1.83 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 stock’s 50-day simple moving average is $73.26 and its 200-day simple moving average is $70.43. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $83.61.

Shares of Rush Enterprises are set to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Monday, August 10th.

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

Rush Enterprises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio (DPR) is 22.89%.

Hedge Funds Weigh In On Rush Enterprises

Institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC increased 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 buying an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings 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 acquiring an additional 431 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after acquiring an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Rush Enterprises in the third quarter worth about $34,000. Finally, Allworth Financial LP grew its position in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.