Stephens Cuts Rush Enterprises (NASDAQ:RUSHA) Price Target to $55.00

by · The Cerbat Gem

Rush Enterprises (NASDAQ:RUSHA – Free Report) had its target price trimmed by Stephens from $60.00 to $55.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also issued reports on RUSHA. Zacks Research lowered Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rush Enterprises has an average rating of “Hold” and an average price target of $55.00.

Check Out Our Latest Stock Report on Rush Enterprises

Rush Enterprises Stock Performance

Shares of NASDAQ RUSHA opened at $48.81 on Wednesday. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $65.43. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.91. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $53.17 and a 200 day moving average of $52.77.

Rush Enterprises (NASDAQ:RUSHA – Get Free Report) last issued its quarterly earnings results on Thursday, May 20th. The company reported $0.79 earnings per share for the quarter. The business had revenue of $1.23 billion for the quarter. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.61%. On average, research analysts anticipate that Rush Enterprises will post 3.91 earnings per share for the current year.

Rush Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 12th. Rush Enterprises’s dividend payout ratio (DPR) is presently 22.55%.

Insider Buying and Selling

In other news, SVP Michael L. Goldstone sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $57.25, for a total value of $257,625.00. Following the transaction, the senior vice president owned 12,510 shares of the company’s stock, valued at approximately $716,197.50. The trade was a 26.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jason Wilder sold 4,980 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $55.55, for a total value of $276,639.00. Following the sale, the chief operating officer owned 79,692 shares of the company’s stock, valued at $4,426,890.60. This trade represents a 5.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Rush Enterprises by 82.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 481 shares of the company’s stock worth $26,000 after buying an additional 217 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Rush Enterprises by 250.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 511 shares of the company’s stock valued at $27,000 after acquiring an additional 365 shares during the period. AlphaQuest LLC purchased a new stake in shares of Rush Enterprises during the 1st quarter worth approximately $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of Rush Enterprises by 427.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after acquiring an additional 633 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Rush Enterprises by 122.1% in the 3rd quarter. Federated Hermes Inc. now owns 793 shares of the company’s stock worth $42,000 after acquiring an additional 436 shares during the period. Hedge funds and other institutional investors own 84.43% of the company’s stock.

About Rush Enterprises

(Get Free Report)

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.

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