Rush Enterprises Stock to Split on Tuesday, August 11th (NASDAQ:RUSHA)

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares are going to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Monday, August 10th.

Rush Enterprises Stock Down 2.5%

RUSHA opened at $79.73 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The business has a 50 day simple moving average of $73.43 and a 200-day simple moving average of $70.56. The stock has a market capitalization of $6.20 billion, a P/E ratio of 24.02, a P/E/G ratio of 1.81 and a beta of 0.87. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $83.61.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.89 billion. On average, equities analysts anticipate that Rush Enterprises will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. Rush Enterprises’s dividend payout ratio (DPR) is 16.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Stephens upped their price target on shares of Rush Enterprises from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Wolfe Research initiated coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective for the company. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. UBS Group upped their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Transactions at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 2,100 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $81.30, for a total value of $170,730.00. Following the completion of the transaction, the senior vice president owned 12,590 shares in the company, valued at $1,023,567. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Mcroberts sold 6,500 shares of Rush Enterprises stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $81.44, for a total value of $529,360.00. Following the transaction, the director directly owned 16,229 shares of the company’s stock, valued at $1,321,689.76. This trade represents a 28.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,250 shares of company stock worth $9,092,352 over the last ninety days. 12.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in Rush Enterprises in the 4th quarter valued at about $776,000. GW&K Investment Management LLC lifted its holdings in Rush Enterprises by 7.6% in the 4th quarter. GW&K Investment Management LLC now owns 350,952 shares of the company’s stock valued at $18,930,000 after purchasing an additional 24,781 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Rush Enterprises by 85.0% during the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after purchasing an additional 335,019 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of Rush Enterprises by 10.0% during the 4th quarter. Denali Advisors LLC now owns 148,811 shares of the company’s stock worth $8,027,000 after purchasing an additional 13,515 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Rush Enterprises by 322.0% during the fourth quarter. M&T Bank Corp now owns 21,956 shares of the company’s stock worth $1,184,000 after buying an additional 16,753 shares in the last quarter. Institutional investors and hedge funds 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.