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

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock 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 traded.

Wall Street Analyst Weigh In

Separately, Stephens increased 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 Price Performance

The company has a market cap of $4.85 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $55.36 and a two-hundred day simple moving average of $49.95.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, October 29th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.02. The firm 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%. During the same period last year, the firm posted $0.96 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Rush Enterprises, Inc. will post 3.45 earnings per share for the current fiscal year.

Rush Enterprises Announces Dividend

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

Insider Activity at Rush Enterprises

In other news, CFO Steven L. Keller sold 43,875 shares of Rush Enterprises stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $63.68, for a total value of $2,793,960.00. Following the completion of the sale, the chief financial officer now owns 83,365 shares of the company’s stock, valued at $5,308,683.20. The trade was a 34.48 % 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, CEO William M. Rusty Rush sold 117,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $63.98, for a total value of $7,517,650.00. Following the transaction, the chief executive officer now owns 174,154 shares in the company, valued at $11,142,372.92. This trade represents a 40.29 % decrease in their ownership of the stock. 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 over the last quarter. Insiders own 12.53% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

A number of large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Rush Enterprises by 34.8% during the third quarter. FMR LLC now owns 5,174,262 shares of the company’s stock worth $273,356,000 after acquiring an additional 1,336,528 shares during the last quarter. State Street Corp increased 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 purchasing an additional 16,082 shares in the last quarter. Geode Capital Management LLC raised its holdings in Rush Enterprises by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company’s stock valued at $85,390,000 after buying an additional 16,803 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Rush Enterprises by 13.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,393 shares of the company’s stock valued at $62,677,000 after buying an additional 138,488 shares in the last quarter. Finally, Cooke & Bieler LP grew its stake in Rush Enterprises by 10.1% during the second quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company’s stock worth $45,752,000 after buying an additional 100,318 shares during the period. Hedge funds and other institutional investors 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.