Rush Enterprises (NASDAQ:RUSHA) Issues Quarterly Earnings Results

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

Rush Enterprises Price Performance

Shares of NASDAQ RUSHA traded up $1.82 during midday trading on Tuesday, reaching $78.82. The stock had a trading volume of 405,603 shares, compared to its average volume of 480,700. The stock has a 50-day moving average of $71.71 and a 200-day moving average of $69.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 1.46. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. Rush Enterprises has a 12-month low of $45.67 and a 12-month high of $80.17.

Insider Transactions at Rush Enterprises

In other news, Director Michael Mcroberts sold 8,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $72.23, for a total value of $577,840.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.68% of the company’s stock.

Institutional Trading of Rush Enterprises

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

Analysts Set New Price Targets

Several research firms recently commented on RUSHA. Stephens reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Rush Enterprises in a research report on Tuesday, May 19th. Weiss Ratings raised Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Finally, UBS Group lifted their price target on shares of Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Rush Enterprises currently has an average rating of “Moderate Buy” and an average price target of $83.67.

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.