Raymond Joseph Chess Sells 10,000 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Raymond Joseph Chess sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the transaction, the director owned 41,170 shares of the company’s stock, valued at approximately $2,678,108.50. The trade was a 19.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Rush Enterprises Stock Up 0.2%

RUSHA stock opened at $61.74 on Friday. The stock has a market capitalization of $4.75 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 0.76 and a beta of 0.91. The company has a fifty day moving average of $66.37 and a 200-day moving average of $57.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.40. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $75.99.

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

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Tuesday, March 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.76 annualized dividend and a yield of 1.2%. Rush Enterprises’s payout ratio is presently 23.24%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. UBS Group reaffirmed a “neutral” rating and set a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Weiss Ratings cut Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Stephens restated an “overweight” rating and set a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.50.

Hedge Funds Weigh In On Rush Enterprises

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of Rush Enterprises by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock valued at $203,618,000 after acquiring an additional 29,375 shares in the last quarter. State Street Corp increased its position in Rush Enterprises by 0.3% during the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock worth $121,524,000 after purchasing an additional 6,994 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Rush Enterprises by 14.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,179,236 shares of the company’s stock worth $63,054,000 after purchasing an additional 148,363 shares in the last quarter. American Century Companies Inc. raised its stake in Rush Enterprises by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock valued at $62,743,000 after purchasing an additional 326,917 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. raised its stake in Rush Enterprises by 20.6% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company’s stock valued at $54,613,000 after purchasing an additional 173,096 shares during the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

About Rush Enterprises

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.