Rush Enterprises (NASDAQ:RUSHA) Reaches New 12-Month High – What’s Next?

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares reached a new 52-week high on Wednesday . The stock traded as high as $77.39 and last traded at $76.9950, with a volume of 77211 shares trading hands. The stock had previously closed at $75.86.

Analyst Upgrades and Downgrades

RUSHA has been the topic of a number of research reports. Stephens reiterated an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. UBS Group raised their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wolfe Research started coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective for the company. Weiss Ratings downgraded Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.67.

Rush Enterprises Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The company has a 50-day moving average price of $70.67 and a 200-day moving average price of $67.98. The firm has a market capitalization of $5.98 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. On average, sell-side analysts predict that Rush Enterprises, Inc. will post 3.79 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. Rush Enterprises’s dividend payout ratio is 22.96%.

Insider Buying and Selling at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the transaction, the director owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This trade represents a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

Several large investors have recently bought and sold shares of the company. Root Financial Partners LLC grew its holdings in shares of Rush Enterprises by 75.4% in the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. CIBC Private Wealth Group LLC raised its stake in Rush Enterprises by 495.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after buying an additional 431 shares during the period. Private Trust Co. NA lifted its holdings 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 in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Rush Enterprises in the third quarter valued at about $34,000. Finally, Allworth Financial LP grew its stake in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after acquiring an additional 637 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

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.