Rush Enterprises (NASDAQ:RUSHA) Stock Rating Upgraded by Wall Street Zen

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

Separately, Stephens decreased their price target on Rush Enterprises from $63.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $54.54 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 0.32. The business’s 50 day simple moving average is $50.62 and its two-hundred day simple moving average is $54.07. The stock has a market capitalization of $4.24 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.88. Rush Enterprises has a one year low of $41.10 and a one year high of $65.43.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a return on equity of 13.82% and a net margin of 3.76%. Analysts forecast that Rush Enterprises will post 3.91 EPS for the current year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.18 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.72 annualized dividend and a yield of 1.32%. Rush Enterprises’s payout ratio is 20.11%.

Insiders Place Their Bets

In other news, COO Jason Wilder sold 748 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $56.08, for a total transaction of $41,947.84. Following the transaction, the chief operating officer directly owned 84,672 shares of the company’s stock, valued at $4,748,405.76. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael L. Goldstone sold 4,500 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $52.10, for a total value of $234,450.00. Following the transaction, the senior vice president directly owned 12,510 shares in the company, valued at approximately $651,771. The trade was a 26.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,731 shares of company stock worth $303,634. Insiders own 12.28% of the company’s stock.

Institutional Trading of Rush Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its stake 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 valued at $26,000 after purchasing an additional 217 shares during the period. AlphaQuest LLC bought a new stake in Rush Enterprises during the 1st quarter valued at approximately $30,000. Smartleaf Asset Management LLC grew its holdings in Rush Enterprises by 475.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock valued at $46,000 after buying an additional 703 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Rush Enterprises by 121.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company’s stock valued at $62,000 after buying an additional 616 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Rush Enterprises by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 1,267 shares of the company’s stock valued at $68,000 after buying an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

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.