Rush Enterprises (NASDAQ:RUSHA) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

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

Rush Enterprises Stock Up 2.4%

Shares of NASDAQ:RUSHA traded up $1.82 during trading on Tuesday, hitting $78.82. The stock had a trading volume of 405,603 shares, compared to its average volume of 480,700. Rush Enterprises has a 12 month low of $45.67 and a 12 month high of $80.17. The company has a market capitalization of $6.13 billion, a PE ratio of 23.81, a PEG ratio of 1.69 and a beta of 0.89. The firm’s fifty day moving average is $71.71 and its 200 day moving average is $69.34. The company has a quick ratio of 0.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Insider Buying and Selling at Rush Enterprises

In related news, Director Michael Mcroberts sold 8,000 shares of Rush Enterprises stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. Following the sale, the director directly owned 16,229 shares in the company, valued at $1,172,220.67. The trade was a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rush Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUSHA. Dimensional Fund Advisors LP grew its position in shares of Rush Enterprises by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,774,824 shares of the company’s stock worth $203,618,000 after buying an additional 29,375 shares during the period. State Street Corp lifted its position in Rush Enterprises by 0.3% during the 2nd quarter. State Street Corp now owns 2,359,238 shares of the company’s stock valued at $121,524,000 after acquiring an additional 6,994 shares during the period. Beck Mack & Oliver LLC boosted its stake in Rush Enterprises by 1.5% during the fourth quarter. Beck Mack & Oliver LLC now owns 983,896 shares of the company’s stock worth $53,071,000 after acquiring an additional 14,995 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Rush Enterprises by 174.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 955,989 shares of the company’s stock worth $51,566,000 after acquiring an additional 607,047 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Rush Enterprises by 15.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 785,998 shares of the company’s stock worth $42,027,000 after purchasing an additional 105,450 shares in the last quarter. Hedge funds and other institutional investors own 84.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RUSHA shares. Wolfe Research assumed coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 price objective on the stock. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Finally, Stephens restated an “overweight” rating and issued a $85.00 price objective on shares of Rush Enterprises in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

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.