Rush Enterprises (NASDAQ:RUSHA) Hits New 12-Month High at $53.78

Rush Enterprises, Inc. (NASDAQ:RUSHAGet Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $53.78 and last traded at $53.47, with a volume of 6559 shares changing hands. The stock had previously closed at $53.52.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RUSHA. Stephens reiterated an “overweight” rating and set a $58.00 target price on shares of Rush Enterprises in a research report on Wednesday, February 14th. StockNews.com downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, January 1st.

Check Out Our Latest Analysis on Rush Enterprises

Rush Enterprises Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.27. The stock has a market capitalization of $4.04 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.24 and a beta of 1.02. The firm has a 50-day simple moving average of $48.19 and a 200 day simple moving average of $43.78.

Rush Enterprises (NASDAQ:RUSHAGet Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Rush Enterprises had a return on equity of 18.44% and a net margin of 4.38%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, equities research analysts forecast that Rush Enterprises, Inc. will post 2.85 EPS for the current year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Tuesday, February 27th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, February 26th. This represents a $0.68 annualized dividend and a yield of 1.31%. Rush Enterprises’s dividend payout ratio is currently 16.41%.

Insider Buying and Selling

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $48.28, for a total value of $543,150.00. Following the completion of the sale, the senior vice president now owns 2,777 shares of the company’s stock, valued at $134,073.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.10% of the stock is currently owned by insiders.

Institutional Trading of Rush Enterprises

A number of hedge funds have recently bought and sold shares of RUSHA. Vanguard Group Inc. lifted its holdings in Rush Enterprises by 49.0% during the third quarter. Vanguard Group Inc. now owns 6,915,478 shares of the company’s stock worth $282,359,000 after acquiring an additional 2,274,689 shares during the period. Wellington Management Group LLP increased its position in Rush Enterprises by 49.2% in the third quarter. Wellington Management Group LLP now owns 6,193,077 shares of the company’s stock worth $252,863,000 after buying an additional 2,041,125 shares during the last quarter. FMR LLC increased its position in Rush Enterprises by 51.7% in the third quarter. FMR LLC now owns 3,581,306 shares of the company’s stock worth $146,225,000 after buying an additional 1,220,003 shares during the last quarter. BlackRock Inc. increased its position in Rush Enterprises by 25.0% in the third quarter. BlackRock Inc. now owns 5,016,778 shares of the company’s stock worth $220,037,000 after buying an additional 1,002,869 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Rush Enterprises by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 2,531,048 shares of the company’s stock worth $103,343,000 after buying an additional 744,310 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

About Rush Enterprises

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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.

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