Rush Enterprises (NASDAQ:RUSHA) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on RUSHA shares. Wolfe Research started coverage on shares of Rush Enterprises in a report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price for the company. Weiss Ratings raised shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 25th. Wall Street Zen cut shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Stephens reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Rush Enterprises in a report on Tuesday, May 19th. Finally, UBS Group increased their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Rush Enterprises presently has a consensus rating of “Hold” and an average target price of $83.67.

Rush Enterprises Stock Performance

The company has a market cap of $5.14 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.41 and a beta of 0.88. The stock’s fifty day simple moving average is $70.08 and its two-hundred day simple moving average is $64.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46.

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

Rush Enterprises Dividend Announcement

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

Insider Buying and Selling at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director owned 16,229 shares of the company’s stock, valued at $1,172,220.67. The trade was a 33.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raymond Joseph Chess sold 10,000 shares of Rush Enterprises stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the sale, the director directly owned 41,170 shares in the company, valued at $2,678,108.50. This trade represents a 19.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 12.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RUSHA. Jennison Associates LLC boosted its holdings in Rush Enterprises by 166.4% in the first quarter. Jennison Associates LLC now owns 1,121,450 shares of the company’s stock valued at $74,139,000 after purchasing an additional 700,511 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rush Enterprises by 174.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock valued at $51,566,000 after purchasing an additional 607,047 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Rush Enterprises in the fourth quarter valued at about $25,811,000. Millennium Management LLC boosted its holdings in Rush Enterprises by 280.4% in the third quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock valued at $28,924,000 after purchasing an additional 398,721 shares during the last quarter. Finally, Cooke & Bieler LP boosted its holdings in Rush Enterprises by 85.0% in the fourth quarter. Cooke & Bieler LP now owns 729,250 shares of the company’s stock valued at $39,336,000 after purchasing an additional 335,019 shares during the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

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.