Steven Keller Sells 20,678 Shares of Rush Enterprises (NASDAQ:RUSHA) Stock

Key Points

• CFO Steven Keller sold 20,678 Rush Enterprises shares at an average price of $80.73, generating approximately $1.67 million and reducing his ownership by 19.68%.
• Rush Enterprises shares rose 1.5% to $80.96, while the company reported quarterly EPS of $0.91—beating estimates by $0.05—and revenue of $1.90 billion. A 3-for-2 stock split is scheduled for August 11.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $87, and institutional investors collectively own 84.43% of the company.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) CFO Steven Keller sold 20,678 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $80.73, for a total transaction of $1,669,334.94. Following the completion of the sale, the chief financial officer owned 84,374 shares of the company's stock, valued at approximately $6,811,513.02. The trade was a 19.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Rush Enterprises Trading Up 1.5%

Shares of Rush Enterprises stock traded up $1.17 during trading on Monday, reaching $80.96. The company's stock had a trading volume of 574,250 shares, compared to its average volume of 490,922. The company has a quick ratio of 0.38, a current ratio of 1.45 and a debt-to-equity ratio of 0.16. Rush Enterprises, Inc. has a 52-week low of $45.67 and a 52-week high of $83.50. The firm's 50-day moving average is $72.57 and its two-hundred day moving average is $69.96. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.77 and a beta of 0.87.

Rush Enterprises shares are scheduled to split on Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. On average, sell-side analysts anticipate that Rush Enterprises, Inc. will post 3.75 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, September 9th. Rush Enterprises's dividend payout ratio (DPR) is presently 22.89%.

Analyst Ratings Changes

Several analysts have weighed in on RUSHA shares. Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a report on Sunday, June 14th. 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 report on Wednesday, April 29th. Stephens boosted their price objective on shares of Rush Enterprises from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, 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 target price for the company. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

Institutional Trading of Rush Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC boosted its holdings in Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company's stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock worth $28,000 after purchasing an additional 431 shares in the last quarter. Private Trust Co. NA lifted its position 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 purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of Rush Enterprises in the 3rd quarter worth about $34,000. Finally, Allworth Financial LP boosted its stake in shares of Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after purchasing an additional 637 shares in the last quarter. 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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