Rush Enterprises (NASDAQ:RUSHA) Announces Quarterly Earnings Results

Key Points

• EPS beat: Rush reported adjusted EPS of $0.77 vs. the $0.72 consensus (beat by $0.05) while revenue marginally missed at $1.68 billion versus $1.69 billion; return on equity was 11.96% with a net margin of 3.55%.
• The company declared a quarterly dividend of $0.19 (annualized $0.76), implying a 1.0% yield and a payout ratio of 23.24%.
• Analyst views are mixed with a consensus rating of "Hold" and a $80.33 target; the stock trades near its 52-week high ($76.99) with a market cap of $5.79 billion and a P/E of 23.03.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05, FiscalAI reports. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion.

Rush Enterprises Stock Performance

Shares of RUSHA stock opened at $75.31 on Wednesday. The stock's 50-day moving average price is $69.00 and its 200 day moving average price is $60.93. The company has a quick ratio of 0.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $5.79 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89. Rush Enterprises has a 52-week low of $45.67 and a 52-week high of $76.99.

Rush Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, March 3rd. Rush Enterprises's payout ratio is 23.24%.

Insider Buying and Selling

In other news, Director Michael Mcroberts sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $70.81, for a total transaction of $566,480.00. Following the completion of the sale, the director owned 16,229 shares in the company, valued at $1,149,175.49. This represents a 33.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond Joseph Chess sold 10,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total value of $650,500.00. Following the sale, the director directly owned 41,170 shares of the company's stock, valued at approximately $2,678,108.50. This represents a 19.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,750 shares of company stock valued at $2,349,450 over the last 90 days. Insiders own 12.68% of the company's stock.

Hedge Funds Weigh In On Rush Enterprises

A number of large investors have recently bought and sold shares of RUSHA. Kestra Advisory Services LLC raised its position in shares of Rush Enterprises by 1.1% during the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company's stock worth $966,000 after purchasing an additional 200 shares during the last quarter. California State Teachers Retirement System grew its holdings in Rush Enterprises by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company's stock valued at $2,955,000 after buying an additional 208 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Rush Enterprises by 44.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company's stock worth $40,000 after buying an additional 230 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Rush Enterprises by 0.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 87,139 shares of the company's stock worth $4,489,000 after buying an additional 269 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Rush Enterprises by 70.3% in 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. Hedge funds and other institutional investors own 84.43% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on RUSHA shares. UBS Group reissued a "neutral" rating and issued a $73.00 target price (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Stephens reaffirmed an "overweight" rating and set a $80.00 price target (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Zacks Research downgraded Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $80.33.

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.