Several other equities analysts also recently weighed in on the company. ValuEngine downgraded Rush Enterprises from a sell rating to a strong sell rating in a research report on Monday, June 8th. Credit Suisse Group assumed coverage on shares of Rush Enterprises in a research report on Friday, July 24th. They set a hold rating and a $46.00 price objective on the stock. TheStreet upgraded shares of Rush Enterprises from a c+ rating to a b- rating in a report on Tuesday, June 16th. Zacks Investment Research raised shares of Rush Enterprises from a hold rating to a strong-buy rating and set a $56.00 price target for the company in a research note on Saturday, July 25th. Finally, BMO Capital Markets increased their price objective on shares of Rush Enterprises from $35.00 to $50.00 and gave the stock a market perform rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $49.80.
Rush Enterprises stock opened at $47.58 on Wednesday. The company’s 50-day moving average price is $42.18 and its 200-day moving average price is $39.59. The company has a quick ratio of 0.27, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.74 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.39 and a beta of 1.39. Rush Enterprises has a twelve month low of $27.25 and a twelve month high of $49.78.
Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.52. Rush Enterprises had a return on equity of 8.91% and a net margin of 1.97%. The company had revenue of $1 billion during the quarter. As a group, sell-side analysts expect that Rush Enterprises will post 1.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.18%. Rush Enterprises’s dividend payout ratio is presently 13.79%.
In other Rush Enterprises news, SVP James E. Thor sold 40,026 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $46.00, for a total value of $1,841,196.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William M. Rusty Rush sold 75,000 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $48.52, for a total value of $3,639,000.00. The disclosure for this sale can be found here. Insiders sold a total of 202,026 shares of company stock worth $9,677,781 in the last ninety days. 12.49% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in Rush Enterprises by 77.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 143,637 shares of the company’s stock worth $6,680,000 after buying an additional 62,537 shares during the period. Globeflex Capital L P increased its holdings in shares of Rush Enterprises by 13.2% in the 1st quarter. Globeflex Capital L P now owns 17,237 shares of the company’s stock valued at $550,000 after acquiring an additional 2,005 shares during the period. Wells Fargo & Company MN raised its position in shares of Rush Enterprises by 22.0% in the 1st quarter. Wells Fargo & Company MN now owns 76,100 shares of the company’s stock worth $2,430,000 after acquiring an additional 13,735 shares in the last quarter. State Street Corp lifted its stake in shares of Rush Enterprises by 2.8% during the 1st quarter. State Street Corp now owns 643,742 shares of the company’s stock worth $20,548,000 after purchasing an additional 17,837 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Rush Enterprises during the 4th quarter worth $16,210,000. Hedge funds and other institutional investors own 74.00% of the company’s stock.
Rush Enterprises Company Profile
Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.
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