Rush Enterprises (NASDAQ:RUSHA) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a buy rating to a hold rating in a report released on Sunday.

Separately, Stephens lowered their price target on shares of Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd.

Rush Enterprises Trading Down 3.3%

Shares of RUSHA opened at $52.09 on Friday. The firm’s 50-day moving average is $51.09 and its two-hundred day moving average is $54.00. Rush Enterprises has a twelve month low of $46.30 and a twelve month high of $65.43. The company has a current ratio of 1.44, a quick ratio of 0.32 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $4.05 billion, a P/E ratio of 14.55, a PEG ratio of 1.52 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Rush Enterprises had a net margin of 3.76% and a return on equity of 13.82%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.86 billion. On average, research analysts predict that Rush Enterprises will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, May 12th. Rush Enterprises’s payout ratio is currently 20.11%.

Insider Transactions at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $52.10, for a total value of $234,450.00. Following the transaction, the senior vice president directly owned 12,510 shares of the company’s stock, valued at approximately $651,771. This trade represents a 26.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jason Wilder sold 748 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the transaction, the chief operating officer owned 84,672 shares in the company, valued at $4,748,405.76. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,731 shares of company stock valued at $303,634. Insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its stake in shares of Rush Enterprises by 82.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after buying an additional 217 shares during the last quarter. AlphaQuest LLC acquired a new position in Rush Enterprises in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its position in Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company’s stock valued at $58,000 after purchasing an additional 227 shares during the period. Tower Research Capital LLC TRC increased its position in Rush Enterprises by 121.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company’s stock worth $62,000 after buying an additional 616 shares during the period. Finally, GAMMA Investing LLC lifted its position in Rush Enterprises by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock valued at $68,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

About Rush Enterprises

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.