Rush Enterprises (NASDAQ:RUSHA) Shares Gap Up – Here’s What Happened

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $60.00, but opened at $62.87. Rush Enterprises shares last traded at $62.87, with a volume of 225 shares traded.

Analysts Set New Price Targets

Separately, Stephens raised their price objective on shares of Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, November 1st.

Rush Enterprises Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40. The company has a market cap of $4.86 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.38 and a beta of 0.99. The stock has a 50 day moving average price of $55.56 and a 200 day moving average price of $50.05.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.95 by $0.02. Rush Enterprises had a net margin of 3.93% and a return on equity of 15.43%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business earned $0.96 earnings per share. Rush Enterprises’s revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts expect that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.18 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a yield of 1.17%. Rush Enterprises’s dividend payout ratio (DPR) is 19.10%.

Insider Buying and Selling at Rush Enterprises

In related news, CEO William M. Rusty Rush sold 117,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total value of $7,517,650.00. Following the completion of the sale, the chief executive officer now owns 174,154 shares in the company, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven L. Keller sold 43,875 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total transaction of $2,793,960.00. Following the completion of the transaction, the chief financial officer now directly owns 83,365 shares of the company’s stock, valued at $5,308,683.20. This represents a 34.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,000 shares of company stock valued at $11,167,173. Corporate insiders own 12.53% of the company’s stock.

Institutional Trading of Rush Enterprises

Several large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Rush Enterprises by 34.8% in the third quarter. FMR LLC now owns 5,174,262 shares of the company’s stock worth $273,356,000 after buying an additional 1,336,528 shares during the period. State Street Corp boosted its position in Rush Enterprises by 0.7% during the 3rd quarter. State Street Corp now owns 2,349,597 shares of the company’s stock worth $124,129,000 after acquiring an additional 16,082 shares during the period. Geode Capital Management LLC grew its stake in Rush Enterprises by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company’s stock valued at $85,390,000 after acquiring an additional 16,803 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Rush Enterprises by 13.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock valued at $62,677,000 after purchasing an additional 138,488 shares during the period. Finally, Cooke & Bieler LP lifted its position in shares of Rush Enterprises by 10.1% in the second quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock worth $45,752,000 after purchasing an additional 100,318 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, 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.