Rush Enterprises (NASDAQ:RUSHA) Sees Strong Trading Volume – Here’s What Happened

Rush Enterprises, Inc. (NASDAQ:RUSHA) saw an uptick in trading volume on Thursday. 1,203,815 shares changed hands during mid-day trading, an increase of 69% from the average daily volume of 711,483 shares. The stock last traded at $43.11 and had previously closed at $41.70.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research lowered shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 2nd. Stephens cut their price target on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday. UBS Group reiterated a “neutral” rating and issued a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.26.

Rush Enterprises Stock Performance

The company has a quick ratio of 0.38, a current ratio of 1.44 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $47.46 and a 200 day simple moving average of $36.25. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.56 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. Rush Enterprises had a return on equity of 11.91% and a net margin of 3.70%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.05 billion. As a group, analysts anticipate that Rush Enterprises, Inc. will post 2.43 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.56 annualized dividend and a yield of 1.3%. Rush Enterprises’s payout ratio is presently 24.24%.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, CEO William Rush sold 161,041 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $36.02, for a total value of $5,801,054.69. Following the completion of the sale, the chief executive officer directly owned 391,846 shares in the company, valued at $14,115,163.69. This represents a 29.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael McRoberts sold 14,625 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $36.20, for a total transaction of $529,360.00. Following the transaction, the director owned 36,514 shares of the company’s stock, valued at approximately $1,321,644.52. This trade represents a 28.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 180,391 shares of company stock valued at $6,501,145. Company insiders own 12.68% of the company’s stock.

Institutional Trading of Rush Enterprises

Several large investors have recently added to or reduced their stakes in RUSHA. Hsbc Holdings PLC purchased a new stake in shares of Rush Enterprises during the 4th quarter worth about $776,000. Granite Investment Partners LLC grew its stake in shares of Rush Enterprises by 124.1% in the 1st quarter. Granite Investment Partners LLC now owns 143,619 shares of the company’s stock valued at $9,495,000 after buying an additional 79,535 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Rush Enterprises by 83.9% in the 1st quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock valued at $47,920,000 after buying an additional 330,553 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. bought a new stake in shares of Rush Enterprises in the 1st quarter valued at approximately $3,655,000. Finally, California State Teachers Retirement System increased its holdings in Rush Enterprises by 27.3% in the first quarter. California State Teachers Retirement System now owns 72,875 shares of the company’s stock worth $4,818,000 after buying an additional 15,643 shares during the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.