Rush Enterprises (NASDAQ:RUSHA) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a buy rating in a research note published on Friday.

Separately, Stephens restated an “overweight” rating on shares of Rush Enterprises in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $61.00.

Rush Enterprises Stock Down 1.9%

RUSHA opened at $56.30 on Friday. Rush Enterprises has a fifty-two week low of $47.06 and a fifty-two week high of $65.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 0.32. The firm’s fifty day moving average price is $56.36 and its two-hundred day moving average price is $53.28. The company has a market capitalization of $4.38 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.62 and a beta of 0.88.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. On average, analysts anticipate that Rush Enterprises will post 3.91 EPS for the current year.

Rush Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 annualized dividend and a yield of 1.3%. This is an increase from Rush Enterprises’s previous quarterly dividend of $0.18. Rush Enterprises’s dividend payout ratio (DPR) is presently 21.65%.

Insiders Place Their Bets

In other Rush Enterprises news, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $57.25, for a total transaction of $257,625.00. Following the completion of the sale, the senior vice president directly owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. The trade was a 26.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jason Wilder sold 4,980 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the sale, the chief operating officer directly owned 79,692 shares of the company’s stock, valued at $4,426,890.60. This represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,480 shares of company stock valued at $862,104. 12.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rush Enterprises

Several institutional investors and hedge funds have recently modified their holdings of RUSHA. Caitong International Asset Management Co. Ltd boosted its position in Rush Enterprises by 82.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after acquiring an additional 217 shares during the last quarter. AlphaQuest LLC acquired a new position in Rush Enterprises during the 1st quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its position in Rush Enterprises by 427.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after acquiring an additional 633 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Rush Enterprises by 26.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,078 shares of the company’s stock worth $58,000 after acquiring an additional 227 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock worth $68,000 after acquiring an additional 288 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. 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, IC Bus, Blue Bird, and Dennis Eagle.