Rush Enterprises (NASDAQ:RUSHA) Hits New 12-Month High After Earnings Beat

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock price hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $58.44 and last traded at $58.44, with a volume of 20588 shares changing hands. The stock had previously closed at $54.87.

The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.02. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year.

Analyst Ratings Changes

Separately, Stephens initiated coverage on shares of Rush Enterprises in a report on Monday, July 8th. They issued an “overweight” rating on the stock.

Insiders Place Their Bets

In other Rush Enterprises news, SVP Jason Wilder sold 4,500 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total transaction of $232,560.00. Following the sale, the senior vice president now owns 534 shares of the company’s stock, valued at $27,597.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Jason Wilder sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the transaction, the senior vice president now owns 534 shares of the company’s stock, valued at approximately $27,597.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William M. Rusty Rush sold 40,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at $9,371,226.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,875 shares of company stock valued at $3,422,554 in the last 90 days. 12.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RUSHA. Quarry LP acquired a new stake in shares of Rush Enterprises in the 2nd quarter valued at approximately $36,000. Blue Trust Inc. raised its position in shares of Rush Enterprises by 266.1% in the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after acquiring an additional 511 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Rush Enterprises by 41.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 982 shares of the company’s stock valued at $41,000 after acquiring an additional 287 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Rush Enterprises in the 2nd quarter valued at approximately $41,000. Finally, GAMMA Investing LLC raised its position in shares of Rush Enterprises by 147.5% in the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock valued at $42,000 after acquiring an additional 469 shares during the period. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Up 6.3 %

The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.03 and a beta of 1.01. The business’s 50-day moving average is $51.77 and its two-hundred day moving average is $48.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 1.40.

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.