Rush Enterprises (NASDAQ:RUSHA) Reaches New 1-Year High - Time to Buy?

Key Points

• Rush Enterprises shares hit a new 52-week high, trading as high as $77.39 and last around $76.99, up about 1.4% on the day.
• Analyst sentiment is mixed but cautious: several firms recently downgraded the stock to Hold, and MarketBeat shows an average Hold rating with an average price target of $83.67.
• The company posted solid recent results and pays a dividend, with quarterly EPS of $0.77 beating estimates, and a $0.19 quarterly dividend that implies a 1.0% annual yield.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $77.39 and last traded at $76.9950, with a volume of 77211 shares traded. The stock had previously closed at $75.86.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RUSHA shares. Wall Street Zen downgraded Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Sunday, June 14th. Zacks Research raised Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Weiss Ratings downgraded Rush Enterprises from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 8th. UBS Group lifted their price objective on Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Finally, Stephens restated an "overweight" rating and set a $85.00 price objective on shares of Rush Enterprises in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rush Enterprises currently has an average rating of "Hold" and an average price target of $83.67.

Rush Enterprises Stock Up 1.4%

The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The firm has a 50 day simple moving average of $70.67 and a 200-day simple moving average of $67.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.

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

Rush Enterprises Announces Dividend

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

Insider Buying and Selling at Rush Enterprises

In other news, Director Michael Mcroberts sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the sale, the director owned 16,229 shares of the company's stock, valued at approximately $1,172,220.67. This trade represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.68% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RUSHA. Baron Wealth Management LLC increased its holdings in Rush Enterprises by 22.4% during the 2nd quarter. Baron Wealth Management LLC now owns 3,732 shares of the company's stock valued at $272,000 after purchasing an additional 682 shares in the last quarter. Versant Capital Management Inc boosted its stake in Rush Enterprises by 292.1% in the second quarter. Versant Capital Management Inc now owns 1,333 shares of the company's stock worth $97,000 after purchasing an additional 993 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Rush Enterprises by 9.5% during the first quarter. Bank of America Corp DE now owns 566,287 shares of the company's stock worth $37,437,000 after purchasing an additional 49,009 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Rush Enterprises by 83.9% during the first quarter. Janus Henderson Group PLC now owns 724,410 shares of the company's stock worth $47,920,000 after purchasing an additional 330,553 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Rush Enterprises by 27.3% in the first quarter. California State Teachers Retirement System now owns 72,875 shares of the company's stock valued at $4,818,000 after buying an additional 15,643 shares in the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

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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