Rush Enterprises Sees Strong Trading Volume on Strong Earnings (RUSHA)
Rush Enterprises (NASDAQ:RUSHA) saw an uptick in trading volume on Monday following a better than expected earnings announcement, AnalystRatingsNetwork reports. 186,504 shares were traded during trading, an increase of 55% from the previous session’s volume of 120,581 shares.The stock last traded at $34.62 and had previously closed at $35.18.
The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.02. The company had revenue of $958.70 million for the quarter, compared to the consensus estimate of $938.30 million.
Separately, analysts at BMO Capital Markets upgraded shares of Rush Enterprises from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 1st. They now have a $36.00 price target on the stock, up previously from $30.00. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $29.30.
The stock has a 50-day moving average of $31.8 and a 200-day moving average of $29.28. The company has a market cap of $1.353 billion and a P/E ratio of 28.84.
Rush Enterprises, Inc (NASDAQ:RUSHA) is an integrated retailer of commercial vehicles and related services.
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