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

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

Rush Enterprises Price Performance

NASDAQ:RUSHA traded down $3.01 during trading hours on Thursday, hitting $61.60. 597,064 shares of the company’s stock traded hands, compared to its average volume of 522,081. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $75.99. The business’s fifty day simple moving average is $66.22 and its two-hundred day simple moving average is $57.91. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.74 billion, a P/E ratio of 18.84, a P/E/G ratio of 0.79 and a beta of 0.91.

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

Rush Enterprises Dividend Announcement

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

Analyst Ratings Changes

RUSHA has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. UBS Group restated a “neutral” rating and set a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Stephens reissued an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research note on Thursday, February 19th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rush Enterprises currently has a consensus rating of “Moderate Buy” and an average price target of $76.50.

Institutional Investors Weigh In On Rush Enterprises

A number of large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Rush Enterprises by 540.0% during the second quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock valued at $43,604,000 after acquiring an additional 714,253 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of Rush Enterprises by 664.8% in the second quarter. Edgestream Partners L.P. now owns 98,962 shares of the company’s stock worth $5,098,000 after purchasing an additional 86,023 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Rush Enterprises by 2.9% in the second quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company’s stock worth $26,023,000 after purchasing an additional 14,387 shares during the last quarter. EULAV Asset Management increased its holdings in Rush Enterprises by 17.1% during the 3rd quarter. EULAV Asset Management now owns 276,100 shares of the company’s stock valued at $14,763,000 after purchasing an additional 40,378 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Rush Enterprises by 76.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,969 shares of the company’s stock valued at $4,269,000 after purchasing an additional 34,979 shares during the period. Institutional investors own 84.43% of the company’s stock.

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.