Rush Enterprises (NASDAQ:RUSHA) Stock Gets Price Target Reduction from Stephens

Rush Enterprises (NASDAQ:RUSHA) had its price objective reduced by Stephens from $60.00 to $55.00 in a research report sent to investors on Thursday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 21st. UBS Group reaffirmed 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. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Finally, Zacks Research downgraded shares of Rush Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 2nd. 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’s stock. According to data from MarketBeat, Rush Enterprises has a consensus rating of “Hold” and an average target price of $50.26.

Rush Enterprises Trading Down 1.3%

Rush Enterprises stock opened at $42.98 on Thursday. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.54 and a beta of 0.92. The company has a 50 day moving average price of $47.46 and a 200 day moving average price of $36.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.38 and a current ratio of 1.44. Rush Enterprises has a 52 week low of $30.45 and a 52 week high of $55.74.

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

Rush Enterprises Announces Dividend

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

Insider Buying and Selling

In other Rush Enterprises news, CEO William M. Rusty Rush sold 161,041 shares of Rush Enterprises stock in a transaction that occurred on Monday, August 3rd. The shares were 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. The trade was a 29.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 4,725 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $36.13, for a total transaction of $170,730.00. Following the completion of the sale, the senior vice president directly owned 28,327 shares of the company’s stock, valued at $1,023,548.93. This represents a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 180,391 shares of company stock worth $6,501,145. Insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in Rush Enterprises in the 2nd quarter worth approximately $25,000. Root Financial Partners LLC lifted its holdings in shares of Rush Enterprises by 75.4% during the first 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. Salomon & Ludwin LLC boosted its position in shares of Rush Enterprises by 50.0% in the third quarter. Salomon & Ludwin LLC now owns 903 shares of the company’s stock valued at $41,000 after acquiring an additional 301 shares during the period. Lazard Asset Management LLC acquired a new position in Rush Enterprises during the 1st quarter valued at $67,000. Finally, USA Financial Formulas acquired a new position in Rush Enterprises during the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

About Rush Enterprises

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.