Rush Enterprises (NASDAQ:RUSHA) Shares Gap Up – Should You Buy?

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s share price gapped up before the market opened 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.

Analyst Upgrades and Downgrades

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

Rush Enterprises Trading Down 0.4 %

The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The business has a 50 day simple moving average of $55.56 and a two-hundred day simple moving average of $50.05. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99.

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

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, November 12th. Rush Enterprises’s dividend payout ratio is currently 19.10%.

Insiders Place Their Bets

In other news, CEO William M. Rusty Rush sold 117,500 shares of Rush Enterprises stock in a transaction dated 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 transaction, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. The trade was a 40.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven L. Keller sold 43,875 shares of the firm’s stock in a transaction dated 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 in the company, valued at $5,308,683.20. This represents a 34.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 176,000 shares of company stock valued at $11,167,173 in the last quarter. Insiders own 12.53% of the company’s stock.

Institutional Trading of Rush Enterprises

Large investors have recently modified their holdings of the company. FMR LLC increased its stake 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 valued at $273,356,000 after purchasing an additional 1,336,528 shares during the period. Janus Henderson Group PLC increased its position in Rush Enterprises by 148.1% in the 3rd quarter. Janus Henderson Group PLC now owns 308,204 shares of the company’s stock valued at $16,282,000 after acquiring an additional 183,965 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Rush Enterprises by 13.2% during 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 acquiring an additional 138,488 shares in the last quarter. Algert Global LLC boosted its position in Rush Enterprises by 284.0% during the 3rd quarter. Algert Global LLC now owns 159,610 shares of the company’s stock worth $8,432,000 after acquiring an additional 118,041 shares during the period. Finally, Edgestream Partners L.P. grew its stake in shares of Rush Enterprises by 678.7% in the second quarter. Edgestream Partners L.P. now owns 130,602 shares of the company’s stock worth $5,468,000 after purchasing an additional 113,831 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.