Rush Enterprises, Inc. (NASDAQ:RUSHA) Receives $83.67 Average Price Target from Analysts

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $83.6667.

Several equities research analysts have recently commented on RUSHA shares. Stephens reissued an “overweight” rating and set a $85.00 price target on shares of Rush Enterprises in a research note on Tuesday, May 19th. UBS Group boosted their price target on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Wall Street Zen lowered Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Wolfe Research started coverage on Rush Enterprises in a research note on Monday, April 27th. They set an “outperform” rating and a $88.00 price target on the stock.

Insider Activity at Rush Enterprises

In other news, Director Raymond Joseph Chess sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the sale, the director owned 41,170 shares of the company’s stock, valued at $2,678,108.50. The trade was a 19.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, the director owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 12.68% of the stock is owned by insiders.

Institutional Trading of Rush Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in RUSHA. Jennison Associates LLC lifted its position in shares of Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after acquiring an additional 700,511 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after acquiring an additional 607,047 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Rush Enterprises in the fourth quarter valued at $25,811,000. Millennium Management LLC lifted its position in shares of Rush Enterprises by 280.4% in the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after acquiring an additional 398,721 shares in the last quarter. Finally, Cooke & Bieler LP lifted its position in shares of Rush Enterprises by 85.0% in the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after acquiring an additional 335,019 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Trading Down 1.5%

Shares of RUSHA stock opened at $71.01 on Friday. The business’s fifty day moving average price is $69.80 and its 200 day moving average price is $63.85. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $76.99. The firm has a market capitalization of $5.52 billion, a PE ratio of 21.45, a P/E/G ratio of 1.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. As a group, sell-side analysts forecast that Rush Enterprises will post 3.79 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.1%. Rush Enterprises’s payout ratio is 22.96%.

Rush Enterprises Company Profile

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.