Key Points
- Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises on March 10 at an average price of $65.05 for proceeds of $650,500, trimming his stake by 19.54% to 41,170 shares valued at about $2.68 million.
- Rush reported an earnings beat for the quarter, with EPS of $0.81 versus $0.69 expected and revenue of $1.77 billion versus $1.72 billion estimated.
- Rush declared a quarterly dividend of $0.19, payable March 18 to shareholders of record March 3 (ex-dividend date March 3), equal to an annualized $0.76 and a roughly 1.2% yield.
Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the sale, the director directly owned 41,170 shares in the company, valued at approximately $2,678,108.50. This trade represents a 19.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Rush Enterprises Price Performance
Shares of NASDAQ RUSHA traded down $0.69 during mid-day trading on Friday, reaching $60.91. The company's stock had a trading volume of 179,158 shares, compared to its average volume of 490,372. The stock has a 50-day moving average of $66.22 and a two-hundred day moving average of $57.91. The stock has a market capitalization of $4.69 billion, a P/E ratio of 18.62, a P/E/G ratio of 0.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.40. Rush Enterprises, Inc. has a 1-year low of $45.67 and a 1-year high of $75.99.
Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. On average, equities research analysts anticipate that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.
Rush Enterprises Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Tuesday, March 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 3rd. Rush Enterprises's dividend payout ratio (DPR) is 23.24%.
Institutional Investors Weigh In On Rush Enterprises
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of Rush Enterprises by 540.0% in the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company's stock valued at $43,604,000 after purchasing an additional 714,253 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of Rush Enterprises by 664.8% during the 2nd quarter. Edgestream Partners L.P. now owns 98,962 shares of the company's stock worth $5,098,000 after purchasing an additional 86,023 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in Rush Enterprises by 2.9% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company's stock valued at $26,023,000 after buying an additional 14,387 shares during the period. EULAV Asset Management lifted its position in Rush Enterprises by 17.1% in the third quarter. EULAV Asset Management now owns 276,100 shares of the company's stock valued at $14,763,000 after buying an additional 40,378 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Rush Enterprises by 76.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 80,969 shares of the company's stock worth $4,269,000 after buying an additional 34,979 shares during the period. Institutional investors and hedge funds own 84.43% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on RUSHA. Stephens reaffirmed an "overweight" rating and issued a $80.00 price target (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. Weiss Ratings cut Rush Enterprises from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Wall Street Zen upgraded Rush Enterprises from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. UBS Group reissued a "neutral" rating and set a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. 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 research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $76.50.
View Our Latest Research Report on Rush Enterprises
Rush Enterprises Company Profile
(
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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