It is currently trading at $50.78 which is significantly higher than $45.96, the stock’s 50 day moving average and quite a bit higher than the 200 day moving average of $40.01. The 50 day moving average was up by +10.48% whereas the 200 day average was up by +26.92%. Trading was light with 191K shares changing hands in the last trading session. Volume was down 6.43% under the stocks average daily volume.
Short traders are more bullish on the company recently if you look at the change in short interest. The company realized a fall in short interest of -0.45% between September 29, 2017 and October 13, 2017. Short shares fell from 907,281 to 903,222 over that timeframe. With short interest at 903,222 and short average daily volume at 131,155, days to cover is 7.0 and the short interest percentage is 0.02% as of October 13.
These firms have modified their investment in RUSHA. As of the end of the quarter First Trust Advisors Lp had sold 6,524 shares trimming its position 13.0%. The value of the company’s investment in Rush Enterprises, Inc. increased from $1,867,000 to $2,023,000 increasing 8.4% for the reporting period. Nationwide Fund Advisors downsized its stake by selling 272 shares a decrease of 0.5% from 06/30/2017 to 09/30/2017. Nationwide Fund Advisors now holds 51,884 shares with a value of $2,402,000. The value of the position overall is up by 23.9%.
As of quarter end Aperio Group, LLC had disposed of a total of 177 shares trimming its stake by 2.7%. The value of the total investment in Rush Enterprises, Inc. went from $243,000 to $294,000 a change of 21.0% quarter to quarter. Nj State Employees Deferred Compensation Plan divested its ownership by shedding 15,000 shares a decrease of 42.9% as of 09/30/2017. Nj State Employees Deferred Compensation Plan now controls 20,000 shares worth $926,000. The total value of its holdings decreased 28.8%.
August 1 investment analysts at BMO Capital kept the stock rating at “Outperform” and raised the price expectation from $20.00 to $42.00. Buckingham issued its first research report on the stock giving it an initial rating of “Neutral”.
The most current P/E ratio is 32.06 and the market cap of the company is 2.02B. In the last earnings report the EPS was $1.58 and is estimated to be $2.09 for the current year with 39,783,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.49 and the next full year EPS is anticipated to be $2.39.
Rush Enterprises, Inc. (Rush), launched on March 3, 1965, is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. The Company, through its Rush Truck Centers, offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products. As of December 31, 2016, the Company operated 100 Rush Truck Centers in 21 states. The Business’s Rush Truck Centers are located in Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Missouri, Nevada, New Mexico, North Carolina, Ohio, Oklahoma, Tennessee, Texas, Utah and Virginia. Its Rush Truck Leasing provides full-service maintenance on customers’ vehicles at its various customers’ facilities. At its Rush Truck Centers, it offers third-party financing to assist customers in purchasing new and used commercial vehicles. Additionally, the Company sells, as agent through its insurance agency, a line of property and casualty insurance, including collision and liability insurance on commercial vehicles, cargo insurance and credit life insurance..