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

Rush Enterprises, Inc. (NASDAQ:RUSHA) Director Michael Mcroberts sold 8,000 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $70.81, for a total value of $566,480.00. Following the sale, the director directly owned 16,229 shares in the company, valued at $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 accessible through the SEC website.

Rush Enterprises Trading Down 2.6%

NASDAQ:RUSHA opened at $73.27 on Tuesday. The firm has a 50 day moving average of $62.86 and a 200 day moving average of $56.84. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.92 and a beta of 0.92. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 52 week low of $45.67 and a 52 week high of $75.99.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%. 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 announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend 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%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RUSHA shares. 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. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Stephens reiterated an “overweight” rating and issued a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a report on Thursday. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective (up previously from $70.00) on shares of Rush Enterprises in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Rush Enterprises has a consensus rating of “Hold” and a consensus price target of $76.50.

Hedge Funds Weigh In On Rush Enterprises

A number of large investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Rush Enterprises by 540.0% in the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock valued at $43,604,000 after purchasing an additional 714,253 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 acquiring an additional 607,047 shares during the last quarter. Millennium Management LLC lifted its position in shares of Rush Enterprises by 280.4% in the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after buying an additional 398,721 shares during the last quarter. Rivulet Capital LLC acquired a new position in Rush Enterprises in the second quarter valued at approximately $19,286,000. Finally, Cooke & Bieler LP increased its position in Rush Enterprises by 85.0% in the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock worth $39,336,000 after buying an additional 335,019 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

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.