Rush Enterprises, Inc. (NASDAQ:RUSHA) Receives $83.67 Average Price Target from Brokerages

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $83.6667.

A number of analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Rush Enterprises in a research note on Tuesday, May 19th. Wolfe Research assumed coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 target price for the company. Weiss Ratings lowered 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 report on Monday, June 29th.

Insider Activity

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

Hedge Funds Weigh In On Rush Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC grew its position in Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock valued at $28,000 after acquiring an additional 431 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Rush Enterprises in the 3rd quarter valued at $34,000. Finally, Allworth Financial LP grew its holdings in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after purchasing an additional 637 shares during the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Stock Up 0.8%

Shares of NASDAQ:RUSHA opened at $75.86 on Friday. The company has a market capitalization of $5.90 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The business has a fifty day moving average price of $70.67 and a two-hundred day moving average price of $67.98. Rush Enterprises has a 1 year low of $45.67 and a 1 year high of $76.99.

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

Rush Enterprises Dividend Announcement

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

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.