Analysts Set Rush Enterprises, Inc. (NASDAQ:RUSHA) Price Target at $69.00

Rush Enterprises, Inc. (NASDAQ:RUSHA) has been given an average recommendation of “Hold” by the five analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $46.00.

A number of analysts have recently issued reports on RUSHA shares. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 2nd. Stephens increased their price objective on Rush Enterprises from $40.00 to $42.22 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. UBS Group restated a “neutral” rating and set a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Finally, Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday.

Insider Activity at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 4,725 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.13, for a total transaction of $170,730.00. Following the transaction, the senior vice president directly owned 28,327 shares in the company, valued at $1,023,548.93. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven L. Keller sold 46,525 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $35.88, for a total transaction of $1,669,317.00. Following the transaction, the chief financial officer owned 189,841 shares in the company, valued at approximately $6,811,495.08. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 252,561 shares of company stock valued at $9,092,298. 12.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of Rush Enterprises by 6,991.9% during the 2nd quarter. California State Teachers Retirement System now owns 5,168,214 shares of the company’s stock valued at $377,228,000 after purchasing an additional 5,095,339 shares in the last quarter. Jennison Associates LLC boosted its holdings in Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock worth $74,139,000 after purchasing an additional 700,511 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rush Enterprises by 174.0% in the fourth 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 in the last quarter. Pacer Advisors Inc. acquired a new position in Rush Enterprises during the fourth quarter worth $25,811,000. Finally, Millennium Management LLC increased its position in Rush Enterprises by 280.4% during 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. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Price Performance

RUSHA stock opened at $50.95 on Monday. Rush Enterprises has a 52-week low of $30.45 and a 52-week high of $55.74. The company’s 50 day simple moving average is $40.93 and its 200-day simple moving average is $34.40. 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 firm has a market capitalization of $5.95 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.56 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. As a group, equities research analysts anticipate that Rush Enterprises will post 1.66 EPS for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio is 23.08%.

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.