Rush Enterprises (NASDAQ:RUSHA) Shares Cross Above 200-Day Moving Average – Should You Sell?

Rush Enterprises, Inc. (NASDAQ:RUSHA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $50.04 and traded as high as $78.92. Rush Enterprises shares last traded at $77.11, with a volume of 281,309 shares changing hands.

Analyst Upgrades and Downgrades

RUSHA has been the topic of a number of analyst reports. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. UBS Group reissued a “neutral” rating and issued a $85.00 target price (up from $78.00) on shares of Rush Enterprises in a research note on Tuesday. Finally, Stephens raised their price target on Rush Enterprises from $60.00 to $63.33 and gave the company an “overweight” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Rush Enterprises Stock Down 0.5%

The company has a market cap of $5.96 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.71 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.45 and a quick ratio of 0.38. The company’s 50-day moving average is $57.48 and its two-hundred day moving average is $50.25.

Rush Enterprises’s stock is set to split before the market opens on Tuesday, September 1st. The 3-2 split was announced on Tuesday, July 28th. The newly minted shares will be distributed to shareholders after the market closes on Monday, August 31st.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. As a group, equities analysts predict that Rush Enterprises, Inc. will post 3.75 earnings per share for the current fiscal year.

Rush Enterprises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Wednesday, September 9th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. Rush Enterprises’s dividend payout ratio (DPR) is 22.89%.

Insiders Place Their Bets

In other Rush Enterprises news, Director Michael Mcroberts sold 9,750 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.29, for a total value of $529,360.00. Following the completion of the transaction, the director owned 24,343 shares of the company’s stock, valued at approximately $1,321,662.61. The trade was a 28.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William M. Rusty Rush sold 107,361 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $54.03, for a total transaction of $5,801,072.70. Following the transaction, the chief executive officer owned 261,231 shares in the company, valued at $14,115,181.70. This represents a 29.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 168,375 shares of company stock valued at $9,092,352 over the last quarter. Corporate insiders own 12.68% of the company’s stock.

Institutional Investors Weigh In On Rush Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC raised its stake in Rush Enterprises by 75.4% during the 1st quarter. Root Financial Partners LLC now owns 407 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Rush Enterprises by 495.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after buying an additional 431 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Rush Enterprises in the third quarter worth $34,000. Allworth Financial LP grew its holdings in shares of Rush Enterprises by 5,790.9% in the third quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after acquiring an additional 637 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock valued at $40,000 after acquiring an additional 633 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.