Rush Enterprises (NASDAQ:RUSHA) Issues Quarterly Earnings Results

Rush Enterprises (NASDAQ:RUSHA) announced its earnings results on Tuesday. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12, FiscalAI reports. The company 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 11.99%.

Rush Enterprises Stock Up 2.9%

RUSHA stock opened at $72.01 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.16. Rush Enterprises has a 1 year low of $45.67 and a 1 year high of $74.19. The company has a fifty day simple moving average of $61.85 and a 200 day simple moving average of $56.44. The firm has a market cap of $5.55 billion, a PE ratio of 22.02, a PEG ratio of 0.86 and a beta of 0.92.

Rush Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.1%. Rush Enterprises’s dividend payout ratio (DPR) is currently 22.55%.

Institutional Trading of Rush Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Rush Enterprises by 33.6% during the 1st quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock valued at $575,000 after acquiring an additional 2,715 shares during the last quarter. AQR Capital Management LLC boosted its position in Rush Enterprises by 8.0% during the first quarter. AQR Capital Management LLC now owns 24,509 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,806 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rush Enterprises by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock worth $1,935,000 after purchasing an additional 1,592 shares during the period. Goldman Sachs Group Inc. grew its holdings in Rush Enterprises by 18.4% during the first quarter. Goldman Sachs Group Inc. now owns 390,387 shares of the company’s stock valued at $20,851,000 after purchasing an additional 60,615 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Rush Enterprises in the first quarter valued at approximately $221,000. Institutional investors and hedge funds own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RUSHA. UBS Group restated a “neutral” rating and set a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings downgraded shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 10th. Stephens reiterated an “overweight” rating and issued a $80.00 target price (up previously from $55.00) on shares of Rush Enterprises in a research report on Thursday. Finally, Wall Street Zen raised shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. One investment 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, the company currently has an average rating of “Hold” and an average price target of $76.50.

Rush Enterprises Company Profile

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.