Michael Goldstone Sells 2,400 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael Goldstone sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $81.05, for a total transaction of $194,520.00. Following the completion of the transaction, the senior vice president directly owned 12,590 shares of the company’s stock, valued at approximately $1,020,419.50. The trade was a 16.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rush Enterprises Stock Performance

NASDAQ:RUSHA opened at $82.76 on Wednesday. The company has a fifty day simple moving average of $73.07 and a two-hundred day simple moving average of $70.28. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.79 and a beta of 0.87. 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, Inc. has a 52 week low of $45.67 and a 52 week high of $83.50.

Rush Enterprises’s stock is set to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. As a group, equities analysts anticipate that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio is presently 22.89%.

Institutional Trading of Rush Enterprises

Large investors have recently made changes to their positions in the company. Root Financial Partners LLC grew its stake in Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after acquiring an additional 431 shares during the period. Private Trust Co. NA grew its position in shares of Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after acquiring an additional 370 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Rush Enterprises in the 3rd quarter valued at $34,000. Finally, Allworth Financial LP increased its holdings in shares of Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after acquiring an additional 637 shares during the period. 84.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group boosted their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Stephens lifted their price objective on shares of Rush Enterprises from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Wolfe Research assumed coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 target price for the company. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.00.

Key Rush Enterprises News

Here are the key news stories impacting Rush Enterprises this week:

• Positive Sentiment: An analyst price target was raised to $95, suggesting further potential upside and reinforcing the stock’s consensus “Moderate Buy” rating. The average analyst target is approximately $87. Rush Enterprises Price Target Raised to $95.00
• Positive Sentiment: Rush Enterprises recently exceeded quarterly expectations, reporting $0.91 in earnings per share versus the $0.86 consensus estimate, while revenue of $1.90 billion slightly topped forecasts. The results support the company’s earnings outlook, with analysts expecting about $3.75 in full-year EPS.
• Neutral Sentiment: A previously announced 3-for-2 stock split is scheduled before the market opens on August 11, with shares distributed after the August 10 market close. The split does not change the company’s underlying value but may improve trading accessibility.
• Negative Sentiment: Rush Enterprises insiders reported substantial selling: CEO William M. Rusty Rush sold 78,750 shares for about $6.38 million, CFO Steven L. Keller sold 22,500 shares worth roughly $1.82 million, and SVP Michael L. Goldstone sold 4,500 shares valued at approximately $365,000. The combined sales totaled about $8.56 million and reduced the executives’ holdings, potentially weighing on investor sentiment. Each executive retained a meaningful stake after the transactions. Rush Enterprises Insider Sale Filing

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.