UBS Group AG Reduces Position in Rush Enterprises, Inc. $RUSHA

Key Points

• UBS Group AG reduced its Rush Enterprises stake by 13.6% in the fourth quarter, selling 40,607 shares and leaving it with 256,906 shares valued at about $13.9 million.
• Rush Enterprises reported better-than-expected quarterly earnings of $0.77 per share, beating estimates, though revenue of $1.68 billion came in slightly below forecasts.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating with an average price target of $83.67, while recent targets and ratings have ranged from buy to strong sell.

UBS Group AG cut its holdings in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,906 shares of the company's stock after selling 40,607 shares during the quarter. UBS Group AG owned approximately 0.33% of Rush Enterprises worth $13,858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. M&T Bank Corp lifted its holdings in Rush Enterprises by 322.0% during the fourth quarter. M&T Bank Corp now owns 21,956 shares of the company's stock valued at $1,184,000 after purchasing an additional 16,753 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Rush Enterprises by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,955 shares of the company's stock valued at $1,184,000 after purchasing an additional 1,587 shares during the last quarter. First Horizon Corp purchased a new stake in Rush Enterprises during the fourth quarter valued at about $37,000. Private Trust Co. NA lifted its holdings in Rush Enterprises by 211.4% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Rush Enterprises by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company's stock valued at $1,897,000 after purchasing an additional 251 shares during the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on RUSHA. UBS Group upped their price objective on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 25th. Wolfe Research started coverage on shares of Rush Enterprises in a report on Monday, April 27th. They set an "outperform" rating and a $88.00 price objective on the stock. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Zacks Research downgraded shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Rush Enterprises has a consensus rating of "Hold" and a consensus price target of $83.67.

Rush Enterprises Trading Down 2.7%

Shares of Rush Enterprises stock opened at $70.08 on Thursday. 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 $5.39 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.53 and a beta of 0.93. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The company's 50-day moving average price is $68.86 and its 200-day moving average price is $62.24.

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

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, May 12th. Rush Enterprises's dividend payout ratio is 22.96%.

Insider Activity at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.92, for a total value of $809,100.00. Following the sale, the senior vice president directly owned 3,385 shares of the company's stock, valued at $243,449.20. This trade represents a 76.87% 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. Also, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total transaction of $323,370.00. Following the completion of the sale, the senior vice president directly owned 12,590 shares in the company, valued at $904,717.40. This represents a 26.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 41,750 shares of company stock valued at $2,927,290. Company insiders own 12.68% of the company's stock.

Rush Enterprises 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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