Rush Enterprises, Inc. $RUSHA Shares Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management boosted its Rush Enterprises stake by 375.6% in the first quarter, ending with 25,850 shares valued at about $1.71 million.
• Analyst sentiment is mixed: Rush Enterprises has a consensus Hold rating and an average price target of $83.67, with recent target moves ranging from $78 to $88.
• The company reported Q1 EPS of $0.77, topping estimates, while also paying a quarterly dividend of $0.19 per share for a 1.0% annualized yield.

Ritholtz Wealth Management raised its position in Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 375.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,850 shares of the company's stock after buying an additional 20,415 shares during the quarter. Ritholtz Wealth Management's holdings in Rush Enterprises were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its position in Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock valued at $28,000 after buying an additional 431 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Rush Enterprises by 211.4% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company's stock worth $29,000 after acquiring an additional 370 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Rush Enterprises in the third quarter valued at $34,000. Allworth Financial LP raised its position in Rush Enterprises by 5,790.9% during the third quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $35,000 after acquiring an additional 637 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in Rush Enterprises in the 4th quarter valued at approximately $37,000. 84.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, June 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Rush Enterprises in a research report on Thursday, June 18th. Stephens reissued an "overweight" rating and issued a $85.00 price objective on shares of Rush Enterprises in a research report on Tuesday, May 19th. Finally, Wolfe Research started coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an "outperform" rating and a $88.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rush Enterprises has a consensus rating of "Hold" and a consensus price target of $83.67.

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $72.78 on Friday. Rush Enterprises, Inc. has a 12-month low of $45.67 and a 12-month high of $76.99. The company has a market cap of $5.66 billion, a PE ratio of 21.99, a P/E/G ratio of 1.54 and a beta of 0.88. The stock has a 50 day simple moving average of $70.69 and a 200-day simple moving average of $66.47. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. On average, equities research analysts forecast that Rush Enterprises, Inc. will post 3.79 EPS for the current year.

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, May 12th. Rush Enterprises's payout ratio is currently 22.96%.

Insider Buying and Selling

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, April 30th. The shares were 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 in the company, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.68% of the company's stock.

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.

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