Rush Enterprises (NASDAQ:RUSHA) Posts Earnings Results, Beats Estimates By $0.05 EPS

Rush Enterprises (NASDAQ:RUSHA) posted its quarterly earnings results on Tuesday. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05, Zacks reports. Rush Enterprises had a return on equity of 11.87% and a net margin of 3.65%.The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion.

Rush Enterprises Stock Up 2.4%

Shares of RUSHA opened at $78.82 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. Rush Enterprises has a 1 year low of $45.67 and a 1 year high of $80.17. The business’s 50 day simple moving average is $71.91 and its 200-day simple moving average is $69.50.

Rush Enterprises Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Rush Enterprises’s dividend payout ratio is 22.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RUSHA shares. Stephens reiterated an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a research report on Tuesday, May 19th. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. UBS Group raised their target price on shares of Rush Enterprises from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. Finally, Wolfe Research started coverage on shares of Rush Enterprises in a research note on Monday, April 27th. They issued an “outperform” rating and a $88.00 price target on the stock. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insiders Place Their Bets

In related news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $72.23, for a total value of $577,840.00. Following the sale, the director owned 16,229 shares in the company, valued at approximately $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.68% of the company’s stock.

Hedge Funds Weigh In On Rush Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in RUSHA. Virtu Financial LLC bought a new stake in shares of Rush Enterprises in the 4th quarter worth about $487,000. State of Tennessee Department of Treasury lifted its holdings in shares of Rush Enterprises by 10.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 16,539 shares of the company’s stock valued at $892,000 after acquiring an additional 1,602 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Rush Enterprises in the 4th quarter valued at about $104,000. XTX Topco Ltd grew its position in Rush Enterprises by 220.8% in the fourth quarter. XTX Topco Ltd now owns 20,400 shares of the company’s stock worth $1,100,000 after acquiring an additional 14,041 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in Rush Enterprises by 155.3% in the fourth quarter. Gotham Asset Management LLC now owns 35,826 shares of the company’s stock worth $1,932,000 after acquiring an additional 21,793 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

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.