Rush Enterprises (NASDAQ:RUSHA) Announces Quarterly Earnings Results

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

Rush Enterprises Stock Performance

NASDAQ RUSHA traded down $1.60 during trading hours on Tuesday, hitting $70.01. The company had a trading volume of 478,872 shares, compared to its average volume of 450,246. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $74.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.34 and a current ratio of 1.37. The company has a market cap 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. The business has a 50 day moving average of $61.28 and a 200-day moving average of $56.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi increased its position in Rush Enterprises by 109.7% during the 4th quarter. Amundi now owns 22,867 shares of the company’s stock worth $1,233,000 after purchasing an additional 11,960 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Rush Enterprises by 2.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,038 shares of the company’s stock valued at $3,023,000 after buying an additional 1,593 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Rush Enterprises by 1.5% during the fourth quarter. Russell Investments Group Ltd. now owns 102,478 shares of the company’s stock worth $5,528,000 after acquiring an additional 1,501 shares during the period. State of Wisconsin Investment Board raised its position in Rush Enterprises by 1.0% in the fourth quarter. State of Wisconsin Investment Board now owns 119,729 shares of the company’s stock worth $6,458,000 after acquiring an additional 1,148 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Rush Enterprises by 7.6% in the fourth quarter. Captrust Financial Advisors now owns 13,220 shares of the company’s stock valued at $713,000 after acquiring an additional 931 shares during the period. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Rush Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Stephens reduced their price objective 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. Weiss Ratings lowered shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 10th. Finally, UBS Group began coverage on shares of Rush Enterprises in a research note on Wednesday, January 28th. They set a “neutral” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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.