Rush Enterprises (NASDAQ:RUSHA) Shares Down 4.7%

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares were down 4.7% during trading on Wednesday . The stock traded as low as $46.55 and last traded at $46.93. Approximately 57,267 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 372,100 shares. The stock had previously closed at $49.23.

Analyst Upgrades and Downgrades

Several analysts have commented on RUSHA shares. StockNews.com lowered Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of Rush Enterprises in a research report on Wednesday.

Rush Enterprises Stock Performance

The firm has a market cap of $3.54 billion, a PE ratio of 11.48, a P/E/G ratio of 1.08 and a beta of 1.02. The firm has a 50-day moving average price of $49.35 and a two-hundred day moving average price of $44.83. The company has a quick ratio of 0.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.32.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, April 23rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. The business had revenue of $1.87 billion for the quarter. Rush Enterprises had a return on equity of 17.16% and a net margin of 4.16%. During the same quarter last year, the business earned $1.07 EPS. Research analysts forecast that Rush Enterprises, Inc. will post 2.88 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 9th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.50%. Rush Enterprises’s payout ratio is 17.19%.

Insiders Place Their Bets

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $48.28, for a total transaction of $543,150.00. Following the completion of the sale, the senior vice president now owns 2,777 shares of the company’s stock, valued at $134,073.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUSHA. Vanguard Group Inc. increased its stake in Rush Enterprises by 49.0% during the third quarter. Vanguard Group Inc. now owns 6,915,478 shares of the company’s stock worth $282,359,000 after acquiring an additional 2,274,689 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Rush Enterprises by 49.2% in the third quarter. Wellington Management Group LLP now owns 6,193,077 shares of the company’s stock valued at $252,863,000 after buying an additional 2,041,125 shares in the last quarter. FMR LLC grew its stake in shares of Rush Enterprises by 51.7% in the third quarter. FMR LLC now owns 3,581,306 shares of the company’s stock valued at $146,225,000 after buying an additional 1,220,003 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rush Enterprises by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 2,531,048 shares of the company’s stock valued at $103,343,000 after buying an additional 744,310 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Rush Enterprises in the fourth quarter valued at $20,954,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

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.