Corbyn Investment Management Inc. MD Buys 12,436 Shares of Rush Enterprises, Inc. $RUSHA

Corbyn Investment Management Inc. MD grew its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 47.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 38,690 shares of the company’s stock after buying an additional 12,436 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in Rush Enterprises were worth $1,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new stake in shares of Rush Enterprises during the 4th quarter worth $776,000. Granite Investment Partners LLC increased its stake in Rush Enterprises by 124.1% in the first quarter. Granite Investment Partners LLC now owns 143,619 shares of the company’s stock valued at $9,495,000 after acquiring an additional 79,535 shares during the last quarter. Janus Henderson Group PLC increased its stake in Rush Enterprises by 83.9% in the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock valued at $47,920,000 after acquiring an additional 330,553 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. bought a new position in Rush Enterprises in the first quarter valued at $3,655,000. Finally, California State Teachers Retirement System raised its position in Rush Enterprises by 27.3% during the first quarter. California State Teachers Retirement System now owns 72,875 shares of the company’s stock valued at $4,818,000 after purchasing an additional 15,643 shares in the last quarter. Institutional investors own 84.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RUSHA shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “strong-buy” rating in a research report on Monday. Stephens decreased their price objective on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, UBS Group restated a “neutral” rating and issued a $56.67 target price (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $50.26.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $46.33 on Thursday. The stock has a fifty day moving average of $47.03 and a 200 day moving average of $36.53. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.59 and a beta of 0.89. The company has a quick ratio of 0.37, a current ratio of 1.44 and a debt-to-equity ratio of 0.15. Rush Enterprises, Inc. has a 52 week low of $30.72 and a 52 week high of $55.74.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. Rush Enterprises had a return on equity of 11.91% and a net margin of 3.70%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.05 billion. As a group, research analysts expect that Rush Enterprises, Inc. will post 2.43 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 11th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. Rush Enterprises’s payout ratio is presently 24.24%.

Rush Enterprises Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.