Rush Enterprises (NASDAQ:RUSHA) Receives “Overweight” Rating from Stephens

Stephens restated their overweight rating on shares of Rush Enterprises (NASDAQ:RUSHA) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $60.00 price objective on the stock.

Separately, StockNews.com downgraded shares of Rush Enterprises from a buy rating to a hold rating in a report on Monday, January 1st.

Rush Enterprises Stock Up 3.0 %

Rush Enterprises stock opened at $46.76 on Wednesday. The company has a 50-day simple moving average of $49.35 and a 200-day simple moving average of $44.90. The firm has a market capitalization of $3.64 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.27 and a current ratio of 1.43. Rush Enterprises has a one year low of $33.37 and a one year high of $53.78.

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 business had revenue of $1.87 billion during the quarter. Rush Enterprises had a net margin of 4.16% and a return on equity of 17.16%. During the same quarter in the prior year, the company posted $1.07 EPS. As a group, equities analysts expect that Rush Enterprises will post 2.92 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 9th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, May 8th. Rush Enterprises’s dividend payout ratio (DPR) is 17.19%.

Insider Transactions at Rush Enterprises

In other news, SVP Jody Pollard sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $48.28, for a total value of $543,150.00. Following the completion of the sale, the senior vice president now directly owns 2,777 shares of the company’s stock, valued at $134,073.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds have recently added to or reduced their stakes in RUSHA. Vanguard Group Inc. increased its holdings in 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 buying an additional 2,274,689 shares during the last quarter. Wellington Management Group LLP grew its holdings in Rush Enterprises by 49.2% during 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 grew its holdings in Rush Enterprises by 51.7% during 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. grew its holdings in Rush Enterprises by 41.7% during 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 during the fourth quarter valued at approximately $20,954,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Company Profile

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.