Rush Enterprises (NASDAQ:RUSHA) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $54.10 and traded as high as $61.94. Rush Enterprises shares last traded at $61.47, with a volume of 374,641 shares changing hands.

Analyst Upgrades and Downgrades

RUSHA has been the subject of several analyst reports. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Stephens decreased their price target on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Rush Enterprises presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Rush Enterprises Stock Up 3.5%

The stock has a fifty day moving average of $54.14 and a two-hundred day moving average of $54.10. The company has a quick ratio of 0.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.32 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.75 billion. Rush Enterprises had a return on equity of 12.52% and a net margin of 3.57%. As a group, analysts predict that Rush Enterprises, Inc. will post 3.91 EPS for the current fiscal year.

Rush Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, November 12th. Rush Enterprises’s payout ratio is 22.55%.

Institutional Investors Weigh In On Rush Enterprises

Several large investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its position in Rush Enterprises by 540.0% during the 2nd quarter. American Century Companies Inc. now owns 846,512 shares of the company’s stock worth $43,604,000 after purchasing an additional 714,253 shares during the period. Edgestream Partners L.P. lifted its stake in shares of Rush Enterprises by 664.8% during the second quarter. Edgestream Partners L.P. now owns 98,962 shares of the company’s stock worth $5,098,000 after purchasing an additional 86,023 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Rush Enterprises by 2.9% in the second quarter. Segall Bryant & Hamill LLC now owns 505,212 shares of the company’s stock worth $26,023,000 after buying an additional 14,387 shares during the period. Global Alpha Capital Management Ltd. boosted its position in shares of Rush Enterprises by 4.5% in the second quarter. Global Alpha Capital Management Ltd. now owns 843,890 shares of the company’s stock worth $43,469,000 after buying an additional 36,600 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Rush Enterprises by 76.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,969 shares of the company’s stock valued at $4,269,000 after buying an additional 34,979 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Rush Enterprises Company Profile

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.