Rush Enterprises (NASDAQ:RUSHA) Hits New 52-Week High – What’s Next?

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $83.55 and last traded at $82.99, with a volume of 7897 shares trading hands. The stock had previously closed at $82.76.

Analyst Upgrades and Downgrades

RUSHA has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen lowered shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. UBS Group boosted their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wolfe Research began coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Rush Enterprises has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Rush Enterprises Stock Up 0.5%

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The stock has a market capitalization of $6.46 billion, a PE ratio of 25.04, a PEG ratio of 1.79 and a beta of 0.87. The company has a 50 day moving average price of $73.07 and a 200-day moving average price of $70.28.

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

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. As a group, analysts forecast that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The business 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 annualized dividend and a yield of 0.7%. Rush Enterprises’s dividend payout ratio is 22.89%.

Insider Transactions at Rush Enterprises

In other news, CFO Steven L. Keller sold 20,678 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $80.73, for a total value of $1,669,334.94. Following the completion of the sale, the chief financial officer directly owned 84,374 shares of the company’s stock, valued at approximately $6,811,513.02. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael L. Goldstone sold 2,100 shares of Rush Enterprises stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $81.30, for a total transaction of $170,730.00. Following the sale, the senior vice president directly owned 12,590 shares in the company, valued at $1,023,567. The trade was a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 105,750 shares of company stock valued at $8,562,992. Company insiders own 12.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baron Wealth Management LLC lifted its stake in shares of Rush Enterprises by 22.4% in the 2nd quarter. Baron Wealth Management LLC now owns 3,732 shares of the company’s stock valued at $272,000 after purchasing an additional 682 shares during the period. Versant Capital Management Inc grew its stake in Rush Enterprises by 292.1% in the second quarter. Versant Capital Management Inc now owns 1,333 shares of the company’s stock worth $97,000 after purchasing an additional 993 shares during the period. Bank of America Corp DE grew its stake in Rush Enterprises by 9.5% in the first quarter. Bank of America Corp DE now owns 566,287 shares of the company’s stock worth $37,437,000 after purchasing an additional 49,009 shares during the period. Janus Henderson Group PLC raised its holdings in Rush Enterprises by 83.9% in the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company’s stock worth $47,920,000 after purchasing an additional 330,553 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Rush Enterprises by 27.3% in the first quarter. California State Teachers Retirement System now owns 72,875 shares of the company’s stock worth $4,818,000 after purchasing an additional 15,643 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

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.