Rush Enterprises (NASDAQ:RUSHA) Sees Strong Trading Volume – Still a Buy?

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares saw strong trading volume on Monday . 253,572 shares traded hands during trading, a decline of 4% from the previous session’s volume of 265,143 shares.The stock last traded at $59.24 and had previously closed at $60.75.

Wall Street Analyst Weigh In

Separately, Stephens raised their price objective on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Rush Enterprises Price Performance

The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.43 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.40. The company has a 50-day simple moving average of $58.55 and a two-hundred day simple moving average of $55.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Rush Enterprises by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,270 shares of the company’s stock worth $1,477,000 after acquiring an additional 405 shares during the period. SG Americas Securities LLC boosted its position in Rush Enterprises by 291.1% during the third quarter. SG Americas Securities LLC now owns 10,506 shares of the company’s stock worth $555,000 after purchasing an additional 7,820 shares during the period. GAMMA Investing LLC increased its holdings in shares of Rush Enterprises by 147.5% in the third quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after purchasing an additional 469 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Rush Enterprises in the third quarter valued at about $53,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Rush Enterprises by 23.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,050 shares of the company’s stock worth $1,534,000 after buying an additional 5,600 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

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, Blue Bird, and Dennis Eagle.