Rush Enterprises (NASDAQ:RUSHA) Releases Earnings Results, Beats Estimates By $0.12 EPS

Rush Enterprises (NASDAQ:RUSHA) issued its quarterly earnings data on Tuesday. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12, FiscalAI reports. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Rush Enterprises had a net margin of 3.57% and a return on equity of 12.52%.

Rush Enterprises Stock Down 2.2%

Rush Enterprises stock traded down $1.60 during mid-day trading on Tuesday, reaching $70.01. The stock had a trading volume of 478,935 shares, compared to its average volume of 450,247. The firm has a market capitalization of $5.40 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 0.88 and a beta of 0.92. Rush Enterprises has a fifty-two week low of $45.67 and a fifty-two week high of $74.19. The stock’s 50-day simple moving average is $61.28 and its 200-day simple moving average is $56.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.34 and a current ratio of 1.37.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RUSHA. Goldman Sachs Group Inc. raised its holdings in shares of Rush Enterprises by 174.0% in the 4th 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 during the last quarter. Millennium Management LLC increased its holdings in Rush Enterprises by 280.4% during the 3rd quarter. Millennium Management LLC now owns 540,942 shares of the company’s stock worth $28,924,000 after purchasing an additional 398,721 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Rush Enterprises by 91.9% in the second quarter. Ameriprise Financial Inc. now owns 628,855 shares of the company’s stock worth $32,392,000 after purchasing an additional 301,119 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Rush Enterprises in the third quarter worth approximately $10,906,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Rush Enterprises in the fourth quarter valued at approximately $7,539,000. 84.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group started coverage on shares of Rush Enterprises in a research report on Wednesday, January 28th. They set a “neutral” rating and a $70.00 target price for the company. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research 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 note on Tuesday, February 10th. 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 report on Wednesday, November 5th. Finally, Wall Street Zen raised Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.50.

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.