Rush Enterprises (NASDAQ:RUSHA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $64.50 and traded as high as $68.23. Rush Enterprises shares last traded at $66.12, with a volume of 660,032 shares.

Wall Street Analyst Weigh In

Several research firms have commented on RUSHA. Stephens reissued an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th. UBS Group increased their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Wolfe Research began coverage on shares of Rush Enterprises in a research report on Monday, April 27th. They set an “outperform” rating and a $88.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Rush Enterprises currently has a consensus rating of “Hold” and an average price target of $83.67.

Rush Enterprises Trading Up 1.4%

The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 1.40 and a beta of 0.88. The company has a 50-day moving average price of $70.08 and a 200-day moving average price of $64.52. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%. Research analysts predict that Rush Enterprises, Inc. will post 3.79 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 12th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.76 annualized dividend and a yield of 1.1%. Rush Enterprises’s payout ratio is currently 22.96%.

Insider Buying and Selling at Rush Enterprises

In related news, Director Raymond Joseph Chess sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the sale, the director owned 41,170 shares of the company’s stock, valued at $2,678,108.50. The trade was a 19.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the completion of the sale, the director directly owned 16,229 shares in the company, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 12.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board lifted its position in shares of Rush Enterprises by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 238,940 shares of the company’s stock worth $12,776,000 after purchasing an additional 30,293 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Rush Enterprises by 38.6% during the third quarter. American Century Companies Inc. now owns 1,173,429 shares of the company’s stock worth $62,743,000 after purchasing an additional 326,917 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Rush Enterprises by 21.3% during the third quarter. Natixis Advisors LLC now owns 225,381 shares of the company’s stock worth $12,051,000 after purchasing an additional 39,604 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Rush Enterprises by 63.9% during the fourth quarter. SG Americas Securities LLC now owns 27,040 shares of the company’s stock worth $1,459,000 after purchasing an additional 10,545 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new position in shares of Rush Enterprises during the third quarter worth approximately $978,000. 84.43% of the stock is owned by institutional investors and hedge funds.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.