Rush Enterprises (NASDAQ:RUSHA) Hits New 1-Year High – Time to Buy?

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares reached a new 52-week high on Friday . The stock traded as high as $74.44 and last traded at $74.51, with a volume of 14496 shares traded. The stock had previously closed at $73.72.

Analysts Set New Price Targets

RUSHA has been the subject of several analyst reports. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. 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 report on Wednesday. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 10th. Finally, Stephens reiterated an “overweight” rating and issued a $80.00 price target (up previously from $55.00) on shares of Rush Enterprises in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Rush Enterprises currently has a consensus rating of “Hold” and an average price target of $76.50.

Rush Enterprises Stock Performance

The business’s fifty day moving average price is $62.53 and its two-hundred day moving average price is $56.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.34 and a current ratio of 1.40. The stock has a market capitalization of $5.80 billion, a P/E ratio of 23.02, a P/E/G ratio of 0.92 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 EPS for the quarter, beating 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 firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. As a group, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

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

Institutional Trading of Rush Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in Rush Enterprises by 250.0% during the third quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock worth $27,000 after buying an additional 365 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $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% during the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Rush Enterprises during the 3rd quarter valued at about $34,000. Finally, Allworth Financial LP grew its holdings in 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. Hedge funds and other institutional investors 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.