Michael Mcroberts Sells 8,000 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction 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 sale, the director owned 16,229 shares in the company, valued at approximately $1,149,175.49. This trade represents a 33.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Rush Enterprises Stock Up 0.4%

Shares of Rush Enterprises stock opened at $73.58 on Wednesday. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $75.99. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 0.90 and a beta of 0.92. The company has a 50-day moving average of $63.19 and a 200 day moving average of $56.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. As a group, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 3rd. Rush Enterprises’s dividend payout ratio (DPR) is 23.24%.

Analysts Set New Price Targets

RUSHA has been the subject of several analyst reports. Stephens restated an “overweight” rating and set a $80.00 price target (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. UBS Group restated a “neutral” rating and set a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Weiss Ratings downgraded shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 10th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.50.

Institutional Trading of Rush Enterprises

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in Rush Enterprises by 250.0% during the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after purchasing an additional 365 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 valued at $28,000 after buying an additional 431 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Rush Enterprises by 211.4% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after buying an additional 370 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Rush Enterprises in the 3rd quarter worth $34,000. Finally, Allworth Financial LP grew its holdings in shares of Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares during the period. 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.