Rush Enterprises (NASDAQ:RUSHA) Reaches New 12-Month High – What’s Next?

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) reached a new 52-week high during trading on Wednesday . The company traded as high as $62.72 and last traded at $62.70, with a volume of 796 shares traded. The stock had previously closed at $59.50.

Analysts Set New Price Targets

Separately, Stephens boosted their target price on shares of Rush Enterprises from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 1st.

Rush Enterprises Trading Up 8.4 %

The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 2.19 and a beta of 0.99. The company’s 50 day moving average is $52.16 and its 200 day moving average is $48.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company posted $0.96 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, research analysts forecast that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. Rush Enterprises’s payout ratio is presently 19.10%.

Insider Activity at Rush Enterprises

In related news, SVP Jason Wilder sold 4,500 shares of Rush Enterprises stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total transaction of $232,560.00. Following the transaction, the senior vice president now owns 534 shares of the company’s stock, valued at $27,597.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Jason Wilder sold 4,500 shares of Rush Enterprises stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the sale, the senior vice president now directly owns 534 shares in the company, valued at $27,597.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William M. Rusty Rush sold 40,000 shares of Rush Enterprises stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the sale, the chief executive officer now owns 174,154 shares in the company, valued at $9,371,226.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,500 shares of company stock worth $4,278,116 in the last ninety days. Company insiders own 12.53% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Several institutional investors and hedge funds have recently modified their holdings of RUSHA. Hexagon Capital Partners LLC lifted its holdings in shares of Rush Enterprises by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock worth $41,000 after acquiring an additional 287 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Rush Enterprises by 2.2% in the second quarter. Arizona State Retirement System now owns 17,296 shares of the company’s stock worth $724,000 after acquiring an additional 367 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Rush Enterprises by 5.0% in the third quarter. Verdence Capital Advisors LLC now owns 7,785 shares of the company’s stock worth $411,000 after acquiring an additional 370 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Rush Enterprises by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 35,270 shares of the company’s stock worth $1,477,000 after acquiring an additional 405 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Rush Enterprises by 147.5% in the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after acquiring an additional 469 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors and hedge funds.

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.