Steven Keller Sells 20,678 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) CFO Steven Keller sold 20,678 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $80.73, for a total transaction of $1,669,334.94. Following the completion of the sale, the chief financial officer owned 84,374 shares of the company’s stock, valued at $6,811,513.02. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rush Enterprises Stock Up 1.5%

Shares of RUSHA stock traded up $1.17 during midday trading on Monday, reaching $80.96. 574,250 shares of the stock were exchanged, compared to its average volume of 490,922. Rush Enterprises, Inc. has a 1 year low of $45.67 and a 1 year high of $83.50. The company’s 50 day moving average is $72.57 and its two-hundred day moving average is $69.96. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. The firm has a market cap of $6.29 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87.

Shares of Rush Enterprises are set to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last released its earnings results on Tuesday, July 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%.The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. On average, equities research analysts predict that Rush Enterprises, Inc. will post 3.75 EPS for the current year.

Rush Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. Rush Enterprises’s dividend payout ratio is 22.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. Stephens lifted their price target on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, UBS Group upped their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.00.

Institutional Investors Weigh In On Rush Enterprises

Several hedge funds have recently added to or reduced their stakes in RUSHA. Root Financial Partners LLC grew its stake in shares of Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares during the last quarter. Private Trust Co. NA boosted its stake in Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock worth $29,000 after purchasing an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Rush Enterprises during the 3rd quarter valued at about $34,000. Finally, Allworth Financial LP increased its stake in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after purchasing an additional 637 shares in the last quarter. 84.43% of the stock is owned by 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.