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 research report released on Saturday morning.

Several other equities analysts have also weighed in on RUSHA. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Stephens reiterated an “overweight” rating and issued a $80.00 price target (up from $55.00) on shares of Rush Enterprises in a research note on Thursday, February 19th. Finally, UBS Group reissued a “neutral” rating and issued a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Rush Enterprises has an average rating of “Moderate Buy” and an average target price of $76.50.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $66.08 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $5.08 billion, a P/E ratio of 20.21, a P/E/G ratio of 0.81 and a beta of 0.91. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $75.99. The stock has a 50 day moving average of $67.58 and a 200-day moving average of $58.41.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. As a group, equities research analysts predict that Rush Enterprises will post 3.91 EPS for the current year.

Rush Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Tuesday, March 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, March 3rd. Rush Enterprises’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity

In related news, SVP Michael L. Goldstone sold 4,500 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total transaction of $323,370.00. Following the sale, the senior vice president owned 12,590 shares in the company, valued at approximately $904,717.40. This trade represents a 26.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $70.81, for a total transaction of $566,480.00. Following the completion of the transaction, the director directly owned 16,229 shares in the company, valued at $1,149,175.49. This trade represents a 33.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,750 shares of company stock valued at $2,349,450 over the last quarter. 12.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its holdings in shares of Rush Enterprises by 540.0% during the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock worth $43,604,000 after buying an additional 714,253 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Rush Enterprises by 664.8% in the second quarter. Edgestream Partners L.P. now owns 98,962 shares of the company’s stock valued at $5,098,000 after buying an additional 86,023 shares in the last quarter. EULAV Asset Management boosted its stake in Rush Enterprises by 17.1% in the third quarter. EULAV Asset Management now owns 276,100 shares of the company’s stock valued at $14,763,000 after buying an additional 40,378 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Rush Enterprises by 76.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,969 shares of the company’s stock valued at $4,269,000 after acquiring an additional 34,979 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Rush Enterprises by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 238,940 shares of the company’s stock worth $12,776,000 after acquiring an additional 30,293 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.

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.