Rush Enterprises (NASDAQ:RUSHA) Issues Quarterly Earnings Results

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

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA opened at $65.58 on Tuesday. The firm has a market capitalization of $5.05 billion, a P/E ratio of 20.06, a P/E/G ratio of 0.77 and a beta of 0.91. The firm’s 50-day moving average price is $67.08 and its 200-day moving average price is $58.17. The company has a current ratio of 1.40, a quick ratio of 0.37 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 $75.99.

Rush Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.19 per share. 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 currently 23.24%.

Insider Transactions at Rush Enterprises

In related news, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total value of $323,370.00. Following the completion of the sale, the senior vice president owned 12,590 shares of the company’s stock, valued at approximately $904,717.40. This trade represents a 26.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Raymond Joseph Chess sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $65.05, for a total transaction of $650,500.00. Following the sale, the director owned 41,170 shares of the company’s stock, valued at $2,678,108.50. This trade represents a 19.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 33,750 shares of company stock valued at $2,349,450. 12.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rush Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of RUSHA. Kestra Advisory Services LLC raised its stake in shares of Rush Enterprises by 1.1% during the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company’s stock worth $966,000 after purchasing an additional 200 shares during the period. California State Teachers Retirement System grew its position in Rush Enterprises by 0.4% during the second quarter. California State Teachers Retirement System now owns 57,375 shares of the company’s stock valued at $2,955,000 after buying an additional 208 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Rush Enterprises by 44.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company’s stock worth $40,000 after buying an additional 230 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Rush Enterprises by 0.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 87,139 shares of the company’s stock worth $4,489,000 after buying an additional 269 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Rush Enterprises by 70.3% in the third 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RUSHA. Zacks Research raised Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Weiss Ratings cut Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 11th. Stephens restated an “overweight” rating and set a $80.00 price objective (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company 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.