Rush Enterprises (NASDAQ:RUSHA) Announces Earnings Results

Rush Enterprises (NASDAQ:RUSHA) announced its earnings results on Tuesday, February 17th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12, Zacks reports. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%.

Rush Enterprises Stock Down 0.5%

Shares of NASDAQ:RUSHA opened at $63.11 on Friday. The business’s 50 day moving average is $66.86 and its 200 day moving average is $58.07. The stock has a market cap of $4.86 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 0.78 and a beta of 0.91. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $75.99. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Rush Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.76 annualized dividend and a yield of 1.2%. Rush Enterprises’s dividend payout ratio is 23.24%.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, SVP Jody Pollard sold 11,250 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $71.92, for a total value of $809,100.00. Following the completion of the sale, the senior vice president directly owned 3,385 shares in the company, valued at approximately $243,449.20. This represents a 76.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Mcroberts sold 8,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $70.81, for a total value of $566,480.00. Following the completion of the sale, the director owned 16,229 shares of the company’s stock, valued at $1,149,175.49. This represents a 33.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 33,750 shares of company stock valued at $2,349,450. Company insiders own 12.28% of the company’s stock.

Institutional Trading of Rush Enterprises

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RUSHA. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Stephens reissued an “overweight” rating and issued a $80.00 price objective (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. UBS Group reissued a “neutral” rating and issued a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Weiss Ratings downgraded shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Rush Enterprises presently has an average rating of “Hold” and a consensus target price of $76.50.

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.