Rush Enterprises (NASDAQ:RUSHA) Sets New 12-Month Low – Here’s What Happened

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $46.89 and last traded at $46.9890, with a volume of 594742 shares trading hands. The stock had previously closed at $49.41.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Stephens reiterated an “overweight” rating on shares of Rush Enterprises in a report on Monday, August 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.00.

Rush Enterprises Trading Down 4.8%

The firm has a market cap of $3.66 billion, a PE ratio of 13.95, a P/E/G ratio of 1.44 and a beta of 0.89. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average price of $54.24 and a 200 day moving average price of $52.93.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Thursday, May 20th. The company reported $0.79 EPS for the quarter. Rush Enterprises had a return on equity of 12.61% and a net margin of 3.57%.The business had revenue of $1.23 billion for the quarter. Analysts forecast that Rush Enterprises, Inc. will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 12th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.6%. Rush Enterprises’s dividend payout ratio is presently 22.55%.

Insider Transactions at Rush Enterprises

In related news, COO Jason Wilder sold 4,980 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total value of $276,639.00. Following the completion of the sale, the chief operating officer directly owned 79,692 shares of the company’s stock, valued at $4,426,890.60. The trade was a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $57.25, for a total transaction of $257,625.00. Following the completion of the sale, the senior vice president directly owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. This trade represents a 26.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in Rush Enterprises by 122.1% during the 3rd quarter. Federated Hermes Inc. now owns 793 shares of the company’s stock worth $42,000 after buying an additional 436 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Rush Enterprises by 16.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,830 shares of the company’s stock worth $259,000 after buying an additional 691 shares during the last quarter. Bailard Inc. purchased a new position in Rush Enterprises during the 3rd quarter worth approximately $674,000. Wealth Enhancement Advisory Services LLC grew its stake in Rush Enterprises by 3.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 43,084 shares of the company’s stock worth $2,140,000 after buying an additional 1,465 shares during the last quarter. Finally, EULAV Asset Management grew its stake in Rush Enterprises by 17.1% during the 3rd quarter. EULAV Asset Management now owns 276,100 shares of the company’s stock worth $14,763,000 after buying an additional 40,378 shares during the last quarter. Hedge funds and other institutional investors 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.