Rush Enterprises (NASDAQ:RUSHA) Reaches New 12-Month High on Earnings Beat

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s share price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $51.50 and last traded at $50.99, with a volume of 658960 shares changing hands. The stock had previously closed at $50.89.

The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.86 billion. Rush Enterprises had a return on equity of 14.76% and a net margin of 3.90%.

Rush Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Monday, March 3rd were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Monday, March 3rd. Rush Enterprises’s payout ratio is currently 19.30%.

Analyst Upgrades and Downgrades

Separately, Stephens restated an “overweight” rating and set a $69.00 price objective on shares of Rush Enterprises in a research note on Wednesday, February 19th.

Insider Buying and Selling at Rush Enterprises

In related news, SVP Jody Pollard sold 11,250 shares of Rush Enterprises stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $56.43, for a total value of $634,837.50. Following the sale, the senior vice president now directly owns 3,117 shares in the company, valued at $175,892.31. This trade represents a 78.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Mcroberts sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $58.52, for a total transaction of $234,080.00. Following the completion of the sale, the director now owns 15,771 shares in the company, valued at $922,918.92. The trade was a 20.23 % decrease in their position. The disclosure for this sale can be found here. 12.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its stake in Rush Enterprises by 217.5% during the 3rd quarter. Barclays PLC now owns 114,759 shares of the company’s stock valued at $6,063,000 after purchasing an additional 78,616 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Rush Enterprises in the 3rd quarter worth approximately $64,000. Synovus Financial Corp lifted its stake in Rush Enterprises by 16.6% during the third quarter. Synovus Financial Corp now owns 16,239 shares of the company’s stock valued at $858,000 after purchasing an additional 2,311 shares during the last quarter. Franklin Resources Inc. acquired a new position in Rush Enterprises in the third quarter worth approximately $269,000. Finally, GAMMA Investing LLC lifted its position in shares of Rush Enterprises by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock valued at $54,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Trading Up 0.2 %

The firm has a 50 day moving average price of $53.49 and a two-hundred day moving average price of $56.75. The firm has a market capitalization of $4.04 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45.

About Rush Enterprises

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.