Rush Enterprises (NASDAQ:RUSHB) Share Price Passes Above 50-Day Moving Average of $38.55

Rush Enterprises, Inc. (NASDAQ:RUSHB) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $38.55 and traded as high as $39.67. Rush Enterprises shares last traded at $39.67, with a volume of 101 shares traded.

Separately, BidaskClub raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd.

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 9.07 and a beta of 1.12. The firm’s fifty day moving average is $38.55 and its 200-day moving average is $39.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.11 and a quick ratio of 0.22.

Rush Enterprises (NASDAQ:RUSHB) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.10 earnings per share (EPS) for the quarter. The firm had revenue of $1.54 billion for the quarter. Rush Enterprises had a net margin of 2.88% and a return on equity of 15.38%.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $0.13 dividend. The ex-dividend date is Thursday, August 8th. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.36%.

A number of institutional investors and hedge funds have recently bought and sold shares of RUSHB. Morgan Stanley increased its holdings in Rush Enterprises by 207.4% in the 2nd quarter. Morgan Stanley now owns 3,486 shares of the company’s stock worth $129,000 after purchasing an additional 2,352 shares in the last quarter. BlackRock Inc. increased its holdings in Rush Enterprises by 3.9% in the 2nd quarter. BlackRock Inc. now owns 272,601 shares of the company’s stock worth $10,062,000 after purchasing an additional 10,246 shares in the last quarter. Northern Trust Corp increased its holdings in Rush Enterprises by 3.4% in the 2nd quarter. Northern Trust Corp now owns 51,164 shares of the company’s stock worth $1,888,000 after purchasing an additional 1,699 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Rush Enterprises by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 289,700 shares of the company’s stock worth $10,693,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Rush Enterprises by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 29,465 shares of the company’s stock worth $1,087,000 after purchasing an additional 1,286 shares in the last quarter. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

About Rush Enterprises (NASDAQ:RUSHB)

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States. 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, Mitsubishi Fuso, IC Bus, or Blue Bird; provides new and used commercial vehicles, and aftermarket parts, as well as service and repair, financing, and leasing and rental services; and offers property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance, and credit life insurance to its commercial vehicle customers.

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