Rush Enterprises (NASDAQ:RUSHA) Price Target Raised to $69.00

Rush Enterprises (NASDAQ:RUSHA) had its target price raised by Stephens from $66.00 to $69.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Rush Enterprises Trading Up 1.6 %

Shares of RUSHA opened at $57.46 on Friday. Rush Enterprises has a 12 month low of $36.40 and a 12 month high of $60.55. The stock’s 50-day moving average is $51.94 and its two-hundred day moving average is $48.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The stock has a market cap of $4.53 billion, a PE ratio of 15.24, a P/E/G ratio of 2.14 and a beta of 0.99.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company posted $0.96 EPS. Rush Enterprises’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts forecast that Rush Enterprises will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Insider Activity

In related news, COO Michael Mcroberts sold 12,500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.72, for a total value of $634,000.00. Following the transaction, the chief operating officer now owns 15,220 shares in the company, valued at approximately $771,958.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Jason Wilder sold 4,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the completion of the sale, the senior vice president now owns 534 shares of the company’s stock, valued at approximately $27,597.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Mcroberts sold 12,500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.72, for a total transaction of $634,000.00. Following the transaction, the chief operating officer now directly owns 15,220 shares in the company, valued at $771,958.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,875 shares of company stock worth $3,422,554 over the last ninety days. Corporate insiders own 12.53% of the company’s stock.

Institutional Trading of Rush Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of RUSHA. UniSuper Management Pty Ltd bought a new stake in shares of Rush Enterprises in the 1st quarter valued at approximately $612,000. Edgestream Partners L.P. bought a new position in shares of Rush Enterprises in the 1st quarter worth about $898,000. Janney Montgomery Scott LLC acquired a new position in shares of Rush Enterprises in the 1st quarter valued at about $625,000. Illinois Municipal Retirement Fund bought a new stake in shares of Rush Enterprises during the 1st quarter valued at about $1,913,000. Finally, BNP Paribas Financial Markets raised its stake in Rush Enterprises by 89.6% during the first quarter. BNP Paribas Financial Markets now owns 33,557 shares of the company’s stock worth $1,796,000 after acquiring an additional 15,856 shares during the period. Institutional investors and hedge funds own 84.43% of the company’s stock.

About Rush Enterprises

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.