Key Points
- SVP Michael Goldstone sold 4,500 Rush Enterprises (RUSHA) shares at $71.86 each for $323,370, cutting his stake by 26.33% to 12,590 shares (worth about $904,717), according to an SEC filing.
- Rush beat estimates for the quarter with $0.81 EPS vs. $0.69 expected and $1.77B revenue, and declared a quarterly dividend of $0.19 (annualized $0.76, ~1.0% yield) payable March 18.
- The stock is trading down (~2.6%), has a market cap of $5.65B and a P/E of 22.41, and carries a consensus analyst rating of "Hold" with an average price target of $76.50.
Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) SVP Michael Goldstone sold 4,500 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $71.86, for a total value of $323,370.00. Following the completion of the transaction, the senior vice president directly owned 12,590 shares in the company, valued at $904,717.40. This trade represents a 26.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Rush Enterprises Trading Down 2.6%
Shares of NASDAQ:RUSHA opened at $73.27 on Tuesday. The stock has a 50 day moving average of $62.86 and a 200 day moving average of $56.84. The company has a market cap of $5.65 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. The company has a current ratio of 1.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $75.99.
Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its earnings results on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. The company had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.72 billion. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.91 EPS for the current year.
Rush Enterprises Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.76 annualized dividend and a yield of 1.0%. Rush Enterprises's dividend payout ratio is currently 23.24%.
Analysts Set New Price Targets
Several brokerages have recently commented on RUSHA. Weiss Ratings downgraded Rush Enterprises from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, February 10th. UBS Group reissued a "neutral" rating and issued a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Wall Street Zen raised shares of Rush Enterprises from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Stephens reiterated an "overweight" rating and set a $80.00 price objective (up previously from $55.00) on shares of Rush Enterprises in a research report on Thursday. Finally, Zacks Research upgraded shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Rush Enterprises has a consensus rating of "Hold" and an average price target of $76.50.
Check Out Our Latest Stock Report on Rush Enterprises
Hedge Funds Weigh In On Rush Enterprises
Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in shares of Rush Enterprises by 250.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company's stock worth $27,000 after buying an additional 365 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after acquiring an additional 431 shares in the last quarter. Private Trust Co. NA increased its stake in 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 purchased a new stake in Rush Enterprises during the third quarter valued at approximately $34,000. Finally, Allworth Financial LP lifted its stake 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 purchasing an additional 637 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.
Rush Enterprises Company Profile
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Get Free Report)
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.
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