Rush Enterprises (NASDAQ:RUSHA) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Rush Enterprises (NASDAQ:RUSHA) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on RUSHA. UBS Group reiterated a “neutral” rating and issued a $73.00 price target (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $76.50.

Rush Enterprises Stock Up 1.2%

Shares of RUSHA stock opened at $74.62 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. Rush Enterprises has a 1 year low of $45.67 and a 1 year high of $76.45. The firm’s fifty day moving average price is $68.73 and its two-hundred day moving average price is $60.25. The firm has a market capitalization of $5.74 billion, a P/E ratio of 22.82, a PEG ratio of 1.46 and a beta of 0.89.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. On average, equities analysts predict that Rush Enterprises will post 3.81 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.0%. Rush Enterprises’s dividend payout ratio is 23.24%.

Insider Activity at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $70.81, for a total value of $566,480.00. Following the transaction, the director owned 16,229 shares in the company, valued at approximately $1,149,175.49. This represents a 33.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jody Pollard sold 11,250 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $71.92, for a total transaction of $809,100.00. Following the completion of the transaction, the senior vice president owned 3,385 shares in the company, valued at approximately $243,449.20. This trade represents a 76.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,750 shares of company stock worth $2,349,450 in the last quarter. Corporate insiders own 12.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RUSHA. Goldman Sachs Group Inc. grew its stake in Rush Enterprises by 174.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after buying an additional 607,047 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Rush Enterprises in the 4th quarter valued at about $25,811,000. Millennium Management LLC boosted its holdings in Rush Enterprises by 280.4% in the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after purchasing an additional 398,721 shares during the period. Cooke & Bieler LP boosted its holdings in Rush Enterprises by 85.0% in the 4th quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after purchasing an additional 335,019 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Rush Enterprises by 38.6% in the 3rd quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock valued at $62,743,000 after purchasing an additional 326,917 shares during the period. Institutional investors and hedge funds own 84.43% of the company’s stock.

About Rush Enterprises

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.