Rush Enterprises (NASDAQ:RUSHA) Shares Break Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Rush Enterprises shares broke above their 200-day moving average, reaching $45.66 and closing near $45.06, compared with a 200-day average of $38.14.
• Analyst views remain mixed: three analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $46.00.
• The company exceeded quarterly expectations, reporting $0.40 in earnings per share on $1.90 billion in revenue, but cut its quarterly dividend from $0.19 to $0.14 per share; insiders also sold roughly $9.1 million of stock over the past 90 days.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $38.14 and traded as high as $45.66. Rush Enterprises shares last traded at $45.06, with a volume of 400,380 shares.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stephens upped their target price on Rush Enterprises from $40.00 to $42.22 and gave the company an "overweight" rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Zacks Research lowered shares of Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 2nd. UBS Group restated a "neutral" rating and issued a $56.67 price target (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Finally, Wall Street Zen lowered shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, October 11th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $46.00.

Rush Enterprises Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 1.45. The stock has a fifty day simple moving average of $49.03 and a two-hundred day simple moving average of $38.14. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.63 and a beta of 0.92.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.65%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Analysts forecast that Rush Enterprises, Inc. will post 2.43 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Wednesday, September 9th were issued a $0.14 dividend. The ex-dividend date was Wednesday, September 9th. This is a decrease from Rush Enterprises's previous quarterly dividend of $0.19. This represents a $0.56 annualized dividend and a yield of 1.2%. Rush Enterprises's dividend payout ratio is currently 25.34%.

Insider Transactions at Rush Enterprises

In other news, Director Michael McRoberts sold 14,625 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $36.20, for a total transaction of $529,360.00. Following the transaction, the director directly owned 36,514 shares of the company's stock, valued at $1,321,644.52. This represents a 28.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael L. Goldstone sold 4,725 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $36.13, for a total value of $170,730.00. Following the transaction, the senior vice president directly owned 28,327 shares in the company, valued at $1,023,548.93. The trade was a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 252,561 shares of company stock worth $9,092,298. 12.68% of the stock is currently owned by insiders.

Institutional Trading of Rush Enterprises

Several hedge funds have recently bought and sold shares of the business. Retirement Planning Group LLC raised its position in Rush Enterprises by 50.3% in the 3rd quarter. Retirement Planning Group LLC now owns 18,507 shares of the company's stock valued at $848,000 after buying an additional 6,190 shares during the last quarter. USA Financial Formulas bought a new position in Rush Enterprises during the 3rd quarter valued at $55,000. Fortitude Family Office LLC lifted its stake in Rush Enterprises by 1,614.8% during the 3rd quarter. Fortitude Family Office LLC now owns 1,389 shares of the company's stock valued at $64,000 after acquiring an additional 1,308 shares in the last quarter. GAMMA Investing LLC lifted its stake in Rush Enterprises by 66.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,334 shares of the company's stock valued at $61,000 after acquiring an additional 531 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Rush Enterprises by 356.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,730 shares of the company's stock worth $79,000 after acquiring an additional 1,351 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company's stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.

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