Rush Enterprises (NASDAQ:RUSHA) Shares Gap Up Following Dividend Announcement
Rush Enterprises (NASDAQ:RUSHA) shares gapped up to $53.17 after announcing a $0.19 dividend, payable on December 12th. The stock closed at $50.38 and last traded at $51.29. The dividend represents an annualized yield of 1.5% and a payout ratio of 21.65%. Analysts maintain a "buy" rating with an average price target of $61.00. Recent insider sales and institutional investments reflect ongoing interest in the stock, which has a market cap of $3.92 billion and a P/E ratio of 14.37.
Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report)'s stock price gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $50.38, but opened at $53.17. Rush Enterprises shares last traded at $51.29, with a volume of 77,586 shares trading hands. The newly announced dividend which will be paid on Friday, December 12th. Investors of record on Wednesday, November 12th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 12th. Rush Enterprises's dividend payout ratio (DPR) is currently 21.65%.
Get Rush Enterprises alerts:
Analyst Ratings Changes
A number of brokerages recently weighed in on RUSHA. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rush Enterprises in a research report on Wednesday, October 8th. Stephens reiterated an "overweight" rating on shares of Rush Enterprises in a research report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $61.00.
Read Our Latest Stock Analysis on Rush Enterprises
Rush Enterprises Stock Up 0.1%
The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 1.39. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.43 and a beta of 0.89. The firm's fifty day simple moving average is $54.55 and its 200 day simple moving average is $52.96.
Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last announced its earnings results on Thursday, May 20th. The company reported $0.79 EPS for the quarter. The firm had revenue of $1.23 billion for the quarter. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. On average, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.91 earnings per share for the current year.
Insiders Place Their Bets
In other Rush Enterprises news, COO Jason Wilder sold 4,980 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $55.55, for a total transaction of $276,639.00. Following the sale, the chief operating officer directly owned 79,692 shares in the company, valued at approximately $4,426,890.60. This trade represents a 5.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Mcroberts sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.64, for a total transaction of $327,840.00. Following the sale, the director owned 15,771 shares in the company, valued at $861,727.44. This trade represents a 27.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 15,480 shares of company stock worth $862,104. Company insiders own 12.28% of the company's stock.
Institutional Investors Weigh In On Rush Enterprises
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Rush Enterprises by 2.7% in the first quarter. Principal Financial Group Inc. now owns 310,294 shares of the company's stock valued at $16,573,000 after buying an additional 8,106 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Rush Enterprises by 6.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,893 shares of the company's stock valued at $5,427,000 after buying an additional 6,210 shares in the last quarter. Bridges Investment Management Inc. grew its stake in shares of Rush Enterprises by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 35,749 shares of the company's stock valued at $1,909,000 after buying an additional 18,831 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Rush Enterprises by 29.4% in the first quarter. GAMMA Investing LLC now owns 1,267 shares of the company's stock valued at $68,000 after buying an additional 288 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of Rush Enterprises by 2.3% in the first quarter. Global Alpha Capital Management Ltd. now owns 807,290 shares of the company's stock valued at $43,117,000 after buying an additional 18,100 shares in the last quarter. Institutional investors own 84.43% of the company's stock.
Rush Enterprises Company Profile
(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.
Further Reading
- Five stocks we like better than Rush Enterprises
- What is the Hang Seng index?
- CrowdStrike at All-Time High: Still a Buy, or Time to Trim?
- NYSE Stocks Give Investors a Variety of Quality Options
- NVIDIA: The FOMO Melt-Up Could Reach a $7 Trillion Market Cap
- Comparing and Trading High PE Ratio Stocks
- Broadcom: The Hidden Winner in Google's Anthropic Chip Deal?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Rush Enterprises Right Now?
Before you consider Rush Enterprises, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rush Enterprises wasn't on the list.
While Rush Enterprises currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
