Rush Enterprises (NASDAQ:RUSHA) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Rush Enterprises (NASDAQ:RUSHA) issued its quarterly earnings data 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 firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%.

Rush Enterprises Price Performance

Rush Enterprises stock opened at $70.01 on Wednesday. The stock has a market cap of $5.40 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 0.88 and a beta of 0.92. The company has a fifty day simple moving average of $61.58 and a 200-day simple moving average of $56.33. 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 12-month low of $45.67 and a 12-month high of $74.19.

Rush Enterprises Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on RUSHA shares. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 10th. Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. UBS Group restated a “neutral” rating on shares of Rush Enterprises in a report on Wednesday. Finally, Stephens cut their price target on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Rush Enterprises has an average rating of “Hold” and an average target price of $62.50.

Hedge Funds Weigh In On Rush Enterprises

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Rush Enterprises by 33.6% during the first quarter. Royal Bank of Canada now owns 10,786 shares of the company’s stock worth $575,000 after buying an additional 2,715 shares during the period. AQR Capital Management LLC grew its position in shares of 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 acquiring an additional 1,806 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rush Enterprises by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,225 shares of the company’s stock valued at $1,935,000 after acquiring an additional 1,592 shares during the period. Goldman Sachs Group Inc. raised its position in Rush Enterprises by 18.4% in the 1st 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 acquired a new stake in Rush Enterprises during the 1st quarter worth $221,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

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.