Rush Enterprises (NASDAQ:RUSHA) Shares Gap Up – What’s Next?

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) 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 trading hands.

Wall Street Analyst Weigh In

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

Rush Enterprises Stock Performance

The firm has a market capitalization of $4.85 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28. The stock has a 50-day moving average price of $55.36 and a 200-day moving average price of $49.95.

Rush Enterprises (NASDAQ:RUSHA) last announced its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $0.96 EPS. Rush Enterprises’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

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

Insider Activity

In other Rush Enterprises news, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $63.98, for a total transaction of $7,517,650.00. Following the sale, the chief executive officer now directly owns 174,154 shares of the company’s stock, valued at approximately $11,142,372.92. This represents a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven L. Keller sold 14,625 shares of Rush Enterprises stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.50, for a total transaction of $855,562.50. Following the completion of the transaction, the chief financial officer now directly owns 83,365 shares of the company’s stock, valued at $4,876,852.50. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,000 shares of company stock worth $11,167,173. 12.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. increased its position in Rush Enterprises by 266.1% in the third quarter. Blue Trust Inc. now owns 703 shares of the company’s stock worth $37,000 after buying an additional 511 shares during the period. GAMMA Investing LLC increased its holdings in shares of Rush Enterprises by 147.5% in the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after acquiring an additional 469 shares during the period. Quarry LP bought a new stake in Rush Enterprises in the 2nd quarter valued at about $36,000. Hexagon Capital Partners LLC boosted its stake in Rush Enterprises by 41.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after purchasing an additional 287 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in Rush Enterprises in the 3rd quarter worth about $53,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

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.