Stephens Forecasts Strong Price Appreciation for Rush Enterprises (NASDAQ:RUSHA) Stock

Rush Enterprises (NASDAQ:RUSHA) had its price objective boosted by Stephens from $66.00 to $69.00 in a report issued on Friday, Benzinga reports. Stephens currently has an overweight rating on the stock.

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA opened at $58.08 on Friday. Rush Enterprises has a 12-month low of $36.83 and a 12-month high of $60.55. The company’s 50 day moving average price is $51.94 and its two-hundred day moving average price is $48.22. The firm has a market cap of $4.57 billion, a PE ratio of 15.41, a PEG ratio of 2.14 and a beta of 0.99. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the business earned $0.96 earnings per share. Rush Enterprises’s revenue was down 4.3% on a year-over-year basis. Equities research analysts predict that Rush Enterprises will post 3.45 earnings per share for the current year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, November 12th. Rush Enterprises’s payout ratio is 19.10%.

Insider Activity

In related news, SVP Jason Wilder sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the sale, the senior vice president now owns 534 shares of the company’s stock, valued at $27,597.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Rush Enterprises news, SVP Jason Wilder sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total value of $232,560.00. Following the transaction, the senior vice president now directly owns 534 shares of the company’s stock, valued at approximately $27,597.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William M. Rusty Rush sold 40,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at $9,371,226.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,875 shares of company stock valued at $3,422,554. 12.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its stake in Rush Enterprises by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after acquiring an additional 287 shares during the last quarter. Arizona State Retirement System lifted its stake in Rush Enterprises by 2.2% in the second quarter. Arizona State Retirement System now owns 17,296 shares of the company’s stock valued at $724,000 after purchasing an additional 367 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Rush Enterprises by 5.0% during the third quarter. Verdence Capital Advisors LLC now owns 7,785 shares of the company’s stock valued at $411,000 after purchasing an additional 370 shares during the period. The Manufacturers Life Insurance Company increased its position in Rush Enterprises by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 35,270 shares of the company’s stock worth $1,477,000 after buying an additional 405 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Rush Enterprises by 147.5% in the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after buying an additional 469 shares during the period. 84.43% of the stock is owned by institutional investors.

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.