Rush Enterprises (NASDAQ:RUSHA) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a buy rating in a research note published on Saturday.

Several other research analysts have also recently issued reports on RUSHA. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. UBS Group upped their price target on shares of Rush Enterprises from $48.67 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Stephens lifted their price objective on shares of Rush Enterprises from $60.00 to $63.33 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Wolfe Research began coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $58.67 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Rush Enterprises currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Rush Enterprises Trading Down 0.3%

Shares of NASDAQ RUSHA opened at $82.23 on Friday. Rush Enterprises has a twelve month low of $45.67 and a twelve month high of $83.61. The firm has a market cap of $6.39 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. The business has a fifty day simple moving average of $52.25 and a two-hundred day simple moving average of $48.26. The company has a quick ratio of 0.38, a current ratio of 1.45 and a debt-to-equity ratio of 0.16.

Rush Enterprises shares are set to split on Tuesday, September 1st. The 3-2 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. Analysts expect that Rush Enterprises will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The company also recently declared 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. This represents a $0.56 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s payout ratio is currently 16.87%.

Insiders Place Their Bets

In related news, Director Michael Mcroberts sold 9,750 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.29, for a total transaction of $529,360.00. Following the transaction, the director directly owned 24,343 shares in the company, valued at $1,321,662.61. The trade was a 28.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael L. Goldstone sold 3,600 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $54.03, for a total value of $194,520.00. Following the transaction, the senior vice president owned 18,885 shares in the company, valued at approximately $1,020,419.50. This trade represents a 16.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 168,375 shares of company stock valued at $9,092,352. Company insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC increased its holdings in shares of Rush Enterprises by 166.4% during the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after acquiring an additional 700,511 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Rush Enterprises by 174.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock worth $51,566,000 after purchasing an additional 607,047 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Rush Enterprises during the 4th quarter valued at approximately $25,811,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Rush Enterprises in the second quarter worth $112,882,000. Finally, Millennium Management LLC raised its holdings in shares of Rush Enterprises by 280.4% in the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after buying an additional 398,721 shares during 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.