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

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

Rush Enterprises Stock Performance

Shares of NASDAQ:RUSHA traded up $1.82 on Tuesday, reaching $78.82. The company’s stock had a trading volume of 405,603 shares, compared to its average volume of 480,700. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $80.17. The stock has a market capitalization of $6.13 billion, a P/E ratio of 23.81, a PEG ratio of 1.69 and a beta of 0.89. The stock’s 50-day moving average is $71.71 and its two-hundred day moving average is $69.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.37.

Insider Activity

In other Rush Enterprises news, Director Michael Mcroberts sold 8,000 shares of the company’s 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 completion of the sale, the director directly owned 16,229 shares of the company’s stock, valued at $1,172,220.67. This represents a 33.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of Rush Enterprises by 495.4% during the third quarter. CIBC Private Wealth Group LLC now owns 518 shares of the company’s stock worth $28,000 after purchasing an additional 431 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Rush Enterprises in the 3rd quarter valued at $34,000. Allworth Financial LP raised its position in Rush Enterprises by 5,790.9% during the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after buying an additional 637 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Rush Enterprises by 427.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Rush Enterprises by 70.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 950 shares of the company’s stock worth $51,000 after acquiring an additional 392 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Stephens reiterated an “overweight” rating and set a $85.00 target price on shares of Rush Enterprises in a research report on Tuesday, May 19th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Wolfe Research started coverage on Rush Enterprises in a research report on Monday, April 27th. They issued an “outperform” rating and a $88.00 target price for the company. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.