Rush Enterprises (NASDAQ:RUSHA) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Rush Enterprises (NASDAQ:RUSHA) posted its quarterly earnings data on Tuesday. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01, Zacks reports. Rush Enterprises had a return on equity of 11.65% and a net margin of 3.67%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.05 billion.

Rush Enterprises Stock Up 4.1%

Shares of RUSHA stock traded up $1.70 during trading hours on Thursday, hitting $43.40. 1,324,802 shares of the company were exchanged, compared to its average volume of 717,594. The business has a 50 day moving average of $47.80 and a two-hundred day moving average of $36.08. The company has a current ratio of 1.45, a quick ratio of 0.38 and a debt-to-equity ratio of 0.16. Rush Enterprises has a 52 week low of $30.45 and a 52 week high of $55.74. The company has a market capitalization of $5.07 billion, a PE ratio of 19.62, a PEG ratio of 1.61 and a beta of 0.92.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 11th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 10th. Rush Enterprises’s dividend payout ratio is 25.34%.

Insider Activity at Rush Enterprises

In related news, CEO William Rush sold 161,041 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $36.02, for a total value of $5,801,054.69. Following the sale, the chief executive officer directly owned 391,846 shares of the company’s stock, valued at approximately $14,115,163.69. The trade was a 29.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Keller sold 46,525 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $35.88, for a total transaction of $1,669,317.00. Following the completion of the transaction, the chief financial officer directly owned 189,841 shares of the company’s stock, valued at approximately $6,811,495.08. The trade was a 19.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 243,062 shares of company stock valued at $8,749,995. 12.68% of the stock is owned by insiders.

Analysts Set New Price Targets

RUSHA has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Rush Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. Zacks Research cut Rush Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 2nd. Stephens decreased their target price on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group reiterated a “neutral” rating and issued a $56.67 price objective (up from $52.00) on shares of Rush Enterprises in a research report on Tuesday, August 25th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.26.

Rush Enterprises Company Profile

Rush Enterprises, Inc is a commercial vehicle solutions provider operating through the Rush Truck Centers network. The company sells new and used commercial trucks, including vehicles from manufacturers such as Peterbilt, International, Hino, Isuzu and Ford, along with related buses and specialty vehicles in selected markets.

In addition to vehicle sales, Rush provides parts, maintenance and repair services through its dealership network. Its offerings also include truck leasing and rentals, collision repair, mobile service, aftermarket products, and fleet-management and technology solutions designed to support commercial transportation operators.

Founded in 1965 and headquartered in New Braunfels, Texas, Rush has expanded from its original Peterbilt dealership into one of the largest commercial vehicle dealership networks in the United States.