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

Key Points

• Rush Enterprises stock moved above its 200-day moving average during Thursday trading, reaching as high as $68.23 before last trading at $66.12.
• Analyst opinions are mixed: the stock carries an average Hold rating and a consensus target price of $83.67, with recent moves including both upgrades and downgrades from major firms.
• The company reported better-than-expected quarterly EPS of $0.77, declared a quarterly dividend of $0.19 per share, and noted recent insider share sales by two directors.

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report)'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 traded.

Analyst Ratings Changes

Several brokerages have weighed in on RUSHA. Wall Street Zen downgraded Rush Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Weiss Ratings upgraded Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 25th. UBS Group upped their price target on Rush Enterprises from $73.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Stephens restated an "overweight" rating and set a $85.00 price target on shares of Rush Enterprises in a report on Tuesday, May 19th. Finally, Zacks Research downgraded Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.67.

Rush Enterprises Trading Down 0.9%

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.41 and a beta of 0.88. The business's 50 day moving average is $70.08 and its 200 day moving average is $64.50.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings data 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. Rush Enterprises had a net margin of 3.65% and a return on equity of 11.87%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. As a group, equities analysts expect that Rush Enterprises, Inc. will post 3.79 earnings per share for the current fiscal year.

Rush Enterprises Dividend Announcement

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

Insider Activity

In other news, Director Michael Mcroberts sold 8,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $72.23, for a total transaction of $577,840.00. Following the completion of the sale, the director owned 16,229 shares in the company, valued at approximately $1,172,220.67. This represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond Joseph Chess sold 10,000 shares of the stock in a transaction dated 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 owned 41,170 shares of the company's stock, valued at $2,678,108.50. This trade represents a 19.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

Several hedge funds have recently made changes to their positions in RUSHA. Root Financial Partners LLC lifted its position in Rush Enterprises by 75.4% in the first quarter. Root Financial Partners LLC now owns 407 shares of the company's stock valued at $27,000 after purchasing an additional 175 shares during the period. CIBC Private Wealth Group LLC lifted its position in Rush Enterprises by 495.4% in the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company's stock valued at $28,000 after purchasing an additional 431 shares during the period. Private Trust Co. NA lifted its position in Rush Enterprises by 211.4% in the fourth quarter. Private Trust Co. NA now owns 545 shares of the company's stock valued at $29,000 after purchasing an additional 370 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Rush Enterprises in the third quarter valued at about $34,000. Finally, Allworth Financial LP lifted its position in Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $35,000 after purchasing an additional 637 shares during the period. 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.

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