Rush Enterprises (NASDAQ:RUSHA) Stock Price Down 4.7%

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock price fell 4.7% during mid-day trading on Wednesday . The stock traded as low as $46.55 and last traded at $46.93. 57,267 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 372,100 shares. The stock had previously closed at $49.23.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RUSHA. Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of Rush Enterprises in a research note on Wednesday. StockNews.com downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Monday, January 1st.

Rush Enterprises Price Performance

The business’s 50 day moving average is $49.42 and its 200-day moving average is $44.81. The firm has a market capitalization of $3.62 billion, a P/E ratio of 11.04, a PEG ratio of 1.12 and a beta of 1.02. The company has a quick ratio of 0.27, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The business had revenue of $1.87 billion for the quarter. Rush Enterprises had a net margin of 4.38% and a return on equity of 18.44%. During the same period last year, the business earned $1.07 earnings per share. As a group, sell-side analysts predict that Rush Enterprises, Inc. will post 2.88 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, February 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.46%. Rush Enterprises’s payout ratio is presently 16.41%.

Insiders Place Their Bets

In other news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $48.28, for a total transaction of $543,150.00. Following the transaction, the senior vice president now owns 2,777 shares in the company, valued at $134,073.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Rush Enterprises by 352.2% in the first quarter. GAMMA Investing LLC now owns 520 shares of the company’s stock valued at $28,000 after buying an additional 405 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Rush Enterprises by 70.3% in the first quarter. Hexagon Capital Partners LLC now owns 695 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the period. Neo Ivy Capital Management acquired a new position in Rush Enterprises in the fourth quarter valued at $43,000. Future Financial Wealth Managment LLC acquired a new position in Rush Enterprises in the first quarter valued at $54,000. Finally, Gladius Capital Management LP increased its stake in Rush Enterprises by 891.2% in the third quarter. Gladius Capital Management LP now owns 1,120 shares of the company’s stock valued at $46,000 after purchasing an additional 1,007 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

About Rush Enterprises

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.