Rush Enterprises (NASDAQ:RUSHA) Stock Price Down 4.7%

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s share price was down 4.7% during trading on Wednesday . The stock traded as low as $46.55 and last traded at $46.93. Approximately 57,267 shares changed hands during trading, a decline of 85% from the average daily volume of 372,100 shares. The stock had previously closed at $49.23.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RUSHA shares. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of Rush Enterprises in a research note on Wednesday. StockNews.com downgraded Rush Enterprises from a “buy” rating to a “hold” rating in a report on Monday, January 1st.

Rush Enterprises Stock Down 5.7 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 1.35. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02. The business has a 50-day simple moving average of $49.42 and a 200-day simple moving average of $44.81.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $1.87 billion for the quarter. Rush Enterprises had a return on equity of 18.44% and a net margin of 4.38%. During the same period last year, the firm earned $1.07 EPS. On average, equities analysts anticipate that Rush Enterprises, Inc. will post 2.88 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Tuesday, February 27th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. Rush Enterprises’s dividend payout ratio (DPR) is currently 16.41%.

Insider Activity at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $48.28, for a total value of $543,150.00. Following the sale, the senior vice president now directly owns 2,777 shares in the company, valued at $134,073.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Rush Enterprises

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Rush Enterprises by 49.0% in the third quarter. Vanguard Group Inc. now owns 6,915,478 shares of the company’s stock worth $282,359,000 after acquiring an additional 2,274,689 shares during the last quarter. Wellington Management Group LLP increased its stake in Rush Enterprises by 49.2% in the third quarter. Wellington Management Group LLP now owns 6,193,077 shares of the company’s stock valued at $252,863,000 after purchasing an additional 2,041,125 shares during the last quarter. FMR LLC increased its stake in Rush Enterprises by 51.7% in the third quarter. FMR LLC now owns 3,581,306 shares of the company’s stock valued at $146,225,000 after purchasing an additional 1,220,003 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Rush Enterprises by 41.7% in the third quarter. JPMorgan Chase & Co. now owns 2,531,048 shares of the company’s stock valued at $103,343,000 after purchasing an additional 744,310 shares during the last quarter. Finally, Norges Bank acquired a new position in Rush Enterprises in the fourth quarter valued at $20,954,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

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.