Rush Enterprises (NASDAQ:RUSHA) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Rush Enterprises (NASDAQ:RUSHA) released its quarterly earnings data 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 net margin of 3.57% and a return on equity of 12.52%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.72 billion.

Rush Enterprises Trading Down 2.2%

Shares of RUSHA traded down $1.60 during mid-day trading 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 business’s 50-day simple moving average is $61.28 and its 200-day simple moving average is $56.22. The stock has a market cap of $5.40 billion, a PE ratio of 20.77, a P/E/G ratio of 0.88 and a beta of 0.92. The company has a quick ratio of 0.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RUSHA shares. Wall Street Zen upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings cut shares of Rush Enterprises from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 10th. Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Stephens lowered their target price on Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, UBS Group began coverage on Rush Enterprises in a research report on Wednesday, January 28th. They set a “neutral” rating and a $70.00 price target for the company. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.50.

Hedge Funds Weigh In On Rush Enterprises

A number of hedge funds have recently made changes to their positions in RUSHA. CIBC Private Wealth Group LLC raised its stake in shares of Rush Enterprises by 495.4% during the third 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 acquired a new position in Rush Enterprises in the 3rd quarter worth $34,000. Allworth Financial LP boosted its position in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $35,000 after buying an additional 637 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Rush Enterprises by 427.7% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock valued at $40,000 after acquiring an additional 633 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Rush Enterprises by 70.3% during the third quarter. PNC Financial Services Group Inc. now owns 950 shares of the company’s stock worth $51,000 after acquiring an additional 392 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

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.