Rush Enterprises (NASDAQ:RUSHA) Stock Set to Split on Tuesday, September 1st

Key Points

• Rush Enterprises announced a 3-for-2 stock split, with new shares distributed after the market closes Monday, August 31, ahead of trading on Tuesday, September 1.
• The company exceeded quarterly expectations, reporting $0.61 in EPS versus the $0.57 consensus and $1.90 billion in revenue. It also declared a quarterly dividend of $0.14 per share, equivalent to a 0.7% annualized yield.
• Analysts collectively rate the stock “Moderate Buy,” with a consensus price target of $58, while institutional investors own approximately 84.43% of outstanding shares; insiders have been net sellers in recent months.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report)'s stock is scheduled to split before the market opens on Tuesday, September 1st. The 3-2 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Monday, August 31st.

Rush Enterprises Price Performance

NASDAQ RUSHA opened at $82.23 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The firm's 50 day moving average price is $52.25 and its 200-day moving average price is $48.26. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $83.61. The company has a market cap of $6.39 billion, a PE ratio of 24.77, a P/E/G ratio of 1.82 and a beta of 0.87.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. Sell-side analysts forecast that Rush Enterprises will post 3.75 EPS for the current fiscal year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. Rush Enterprises's dividend payout ratio (DPR) is currently 16.87%.

Wall Street Analyst Weigh In

RUSHA has been the subject of several recent research reports. Wolfe Research began coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an "outperform" rating and a $58.67 price target for the company. Stephens raised their price objective on Rush Enterprises from $60.00 to $63.33 and gave the company an "overweight" rating in a research report on Thursday, July 30th. UBS Group lifted their target price on Rush Enterprises from $48.67 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Zacks Research upgraded shares of Rush Enterprises from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of Rush Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Insiders Place Their Bets

In other news, Director Michael Mcroberts sold 9,750 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.29, for a total transaction of $529,360.00. Following the completion of the sale, the director owned 24,343 shares in the company, valued at approximately $1,321,662.61. This represents a 28.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William M. Rusty Rush sold 107,361 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.03, for a total value of $5,801,072.70. Following the completion of the sale, the chief executive officer directly owned 261,231 shares of the company's stock, valued at $14,115,181.70. The trade was a 29.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 168,375 shares of company stock worth $9,092,352. 12.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rush Enterprises

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Rush Enterprises by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company's stock valued at $203,618,000 after purchasing an additional 29,375 shares during the last quarter. State Street Corp increased its holdings in Rush Enterprises by 0.3% in the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company's stock worth $121,524,000 after buying an additional 6,994 shares during the period. Jennison Associates LLC raised its position in Rush Enterprises by 166.4% during the 1st quarter. Jennison Associates LLC now owns 1,121,450 shares of the company's stock worth $74,139,000 after buying an additional 700,511 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in Rush Enterprises by 20.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,012,486 shares of the company's stock worth $54,613,000 after buying an additional 173,096 shares during the last quarter. Finally, Beck Mack & Oliver LLC lifted its stake in Rush Enterprises by 1.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company's stock valued at $53,071,000 after acquiring an additional 14,995 shares during the period. Hedge funds and other institutional investors own 84.43% of the company's stock.

About Rush Enterprises

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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