Stephens Issues Positive Forecast for Rush Enterprises (NASDAQ:RUSHA) Stock Price

Rush Enterprises (NASDAQ:RUSHA) had its price target raised by Stephens from $66.00 to $69.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Rush Enterprises Stock Performance

RUSHA stock opened at $58.08 on Friday. The stock’s fifty day moving average is $51.94 and its two-hundred day moving average is $48.22. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 2.14 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40. Rush Enterprises has a 1 year low of $36.83 and a 1 year high of $60.55.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company posted $0.96 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts predict that Rush Enterprises will post 3.45 EPS for the current year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Insider Activity

In related news, CEO William M. Rusty Rush sold 40,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the transaction, the chief executive officer now owns 174,154 shares in the company, valued at approximately $9,371,226.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO William M. Rusty Rush sold 40,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at approximately $9,371,226.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Mcroberts sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.72, for a total value of $634,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,220 shares in the company, valued at $771,958.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,875 shares of company stock worth $3,422,554 in the last ninety days. Corporate insiders own 12.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RUSHA. Cooke & Bieler LP boosted its position in Rush Enterprises by 10.1% in the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock valued at $45,752,000 after buying an additional 100,318 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Rush Enterprises by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company’s stock worth $43,875,000 after acquiring an additional 63,413 shares during the period. William Blair Investment Management LLC raised its position in shares of Rush Enterprises by 239.1% during the 1st quarter. William Blair Investment Management LLC now owns 794,375 shares of the company’s stock valued at $42,515,000 after acquiring an additional 560,138 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its stake in shares of Rush Enterprises by 11.5% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 691,390 shares of the company’s stock valued at $37,003,000 after purchasing an additional 71,402 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Rush Enterprises by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 427,553 shares of the company’s stock worth $22,883,000 after purchasing an additional 9,397 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

Rush Enterprises Company Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.