Michael Goldstone Sells 2,100 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises, Inc. (NASDAQ:RUSHA) SVP Michael Goldstone sold 2,100 shares of Rush Enterprises stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $81.30, for a total value of $170,730.00. Following the sale, the senior vice president directly owned 12,590 shares in the company, valued at approximately $1,023,567. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rush Enterprises Trading Up 2.2%

NASDAQ:RUSHA opened at $82.76 on Wednesday. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.79 and a beta of 0.87. Rush Enterprises, Inc. has a one year low of $45.67 and a one year high of $83.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The business’s 50-day simple moving average is $73.07 and its 200 day simple moving average is $70.28.

Rush Enterprises’s stock is scheduled to split before the market opens on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.91 earnings per share 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. As a group, sell-side analysts predict that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. Rush Enterprises’s dividend payout ratio (DPR) is presently 22.89%.

Institutional Trading of Rush Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC boosted its holdings in Rush Enterprises by 75.4% during the first quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock worth $27,000 after buying an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after buying an additional 431 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $29,000 after buying an additional 370 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Rush Enterprises in the third quarter valued at $34,000. Finally, Allworth Financial LP lifted its position in shares of 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 acquiring an additional 637 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wolfe Research started 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 on the stock. Stephens boosted their target price on shares of Rush Enterprises from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. 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. UBS Group increased their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

More Rush Enterprises News

Here are the key news stories impacting Rush Enterprises this week:

• Positive Sentiment: An analyst price target was raised to $95, suggesting further potential upside and reinforcing the stock’s consensus “Moderate Buy” rating. The average analyst target is approximately $87. Rush Enterprises Price Target Raised to $95.00
• Positive Sentiment: Rush Enterprises recently exceeded quarterly expectations, reporting $0.91 in earnings per share versus the $0.86 consensus estimate, while revenue of $1.90 billion slightly topped forecasts. The results support the company’s earnings outlook, with analysts expecting about $3.75 in full-year EPS.
• Neutral Sentiment: A previously announced 3-for-2 stock split is scheduled before the market opens on August 11, with shares distributed after the August 10 market close. The split does not change the company’s underlying value but may improve trading accessibility.
• Negative Sentiment: Rush Enterprises insiders reported substantial selling: CEO William M. Rusty Rush sold 78,750 shares for about $6.38 million, CFO Steven L. Keller sold 22,500 shares worth roughly $1.82 million, and SVP Michael L. Goldstone sold 4,500 shares valued at approximately $365,000. The combined sales totaled about $8.56 million and reduced the executives’ holdings, potentially weighing on investor sentiment. Each executive retained a meaningful stake after the transactions. Rush Enterprises Insider Sale Filing

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.