Rush Enterprises (NASDAQ:RUSHA) Stock Crosses Above 200-Day Moving Average of $38.60

Rush Enterprises, Inc. (NASDAQ:RUSHA) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $38.60 and traded as high as $42.25. Rush Enterprises shares last traded at $42.06, with a volume of 161,649 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RUSHA shares. StockNews.com started coverage on Rush Enterprises in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Stephens increased their price target on Rush Enterprises from $48.00 to $52.00 in a report on Thursday, July 27th. Finally, BMO Capital Markets increased their price objective on Rush Enterprises from $40.00 to $45.33 in a research report on Monday, June 19th.

Rush Enterprises Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.29 and a quick ratio of 0.28. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.71 and a beta of 0.98. The stock has a 50 day simple moving average of $42.45 and a two-hundred day simple moving average of $38.60.

Rush Enterprises (NASDAQ:RUSHA) last posted its earnings results on Tuesday, July 25th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Rush Enterprises had a return on equity of 21.10% and a net margin of 4.93%. The business had revenue of $2 billion for the quarter. As a group, analysts anticipate that Rush Enterprises, Inc. will post 5.97 earnings per share for the current year.

Rush Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Thursday, September 7th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.62%. The ex-dividend date is Wednesday, September 6th. Rush Enterprises’s dividend payout ratio (DPR) is presently 15.28%.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 3,202 shares of Rush Enterprises stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $42.51, for a total value of $136,127.69. Following the sale, the senior vice president now owns 2,400 shares of the company’s stock, valued at approximately $102,032. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its holdings in Rush Enterprises by 6.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,431 shares of the company’s stock valued at $208,000 after acquiring an additional 193 shares during the last quarter. Franklin Resources Inc. raised its holdings in Rush Enterprises by 1.6% in the 2nd quarter. Franklin Resources Inc. now owns 13,033 shares of the company’s stock valued at $792,000 after acquiring an additional 201 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Rush Enterprises by 5.4% in the 1st quarter. Mackenzie Financial Corp now owns 4,309 shares of the company’s stock valued at $219,000 after acquiring an additional 222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Rush Enterprises by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,220 shares of the company’s stock valued at $953,000 after acquiring an additional 246 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in Rush Enterprises by 1.8% in the 1st quarter. LPL Financial LLC now owns 16,600 shares of the company’s stock valued at $906,000 after acquiring an additional 297 shares during the last quarter. 77.52% of the stock is currently owned by institutional investors and hedge funds.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, and Blue Bird.