Rush Enterprises (NASDAQ:RUSHA) Announces Earnings Results

Key Points

• Quarterly results slightly missed expectations: Rush reported $0.77 EPS versus a $0.78 consensus and revenue of $1.68 billion versus $1.69 billion, with a 3.55% net margin and 11.96% ROE.
• Stock and dividend snapshot: Shares traded down about 1.2% to $75.31 (market cap $5.79B, P/E 23.03) and the company pays a $0.19 quarterly dividend (1.0% yield, 23.24% payout ratio).
• Corporate action and outlook: Insiders sold 33,750 shares (~$2.35M) over the last three months while analyst opinions are mixed—consensus is a "Hold" with a $80.33 target price.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) issued its earnings results on Tuesday. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01), FiscalAI reports. Rush Enterprises had a return on equity of 11.96% and a net margin of 3.55%.The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion.

Rush Enterprises Stock Down 1.2%

NASDAQ RUSHA traded down $0.89 during trading on Tuesday, reaching $75.31. The company's stock had a trading volume of 399,207 shares, compared to its average volume of 465,716. The business has a 50-day moving average price of $68.89 and a 200-day moving average price of $60.75. Rush Enterprises has a 1-year low of $45.67 and a 1-year high of $76.99. The stock has a market capitalization of $5.79 billion, a PE ratio of 23.03, a PEG ratio of 1.48 and a beta of 0.89. The company has a current ratio of 1.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.

Rush Enterprises Dividend Announcement

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

Analyst Ratings Changes

RUSHA has been the subject of several recent research reports. Stephens reaffirmed an "overweight" rating and set a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a report on Thursday, February 19th. Zacks Research lowered Rush Enterprises from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. UBS Group reiterated a "neutral" rating and set a $73.00 price objective (up from $70.00) on shares of Rush Enterprises in a research note on Wednesday, February 18th. 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. Finally, Wall Street Zen cut Rush Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rush Enterprises presently has a consensus rating of "Hold" and a consensus target price of $80.33.

Insider Activity

In other news, SVP Jody Pollard sold 11,250 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $71.92, for a total transaction of $809,100.00. Following the sale, the senior vice president directly owned 3,385 shares in the company, valued at approximately $243,449.20. The trade was a 76.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Mcroberts sold 8,000 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $70.81, for a total value of $566,480.00. Following the completion of the transaction, the director directly owned 16,229 shares of the company's stock, valued at approximately $1,149,175.49. This trade represents a 33.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,750 shares of company stock valued at $2,349,450 over the last three months. Corporate insiders own 12.68% of the company's stock.

Institutional Investors Weigh In On Rush Enterprises

Several large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Rush Enterprises during the 4th quarter worth approximately $487,000. State of Tennessee Department of Treasury lifted its position in Rush Enterprises by 10.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 16,539 shares of the company's stock worth $892,000 after buying an additional 1,602 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Rush Enterprises during the fourth quarter worth approximately $104,000. XTX Topco Ltd lifted its holdings in Rush Enterprises by 220.8% during the 4th quarter. XTX Topco Ltd now owns 20,400 shares of the company's stock worth $1,100,000 after buying an additional 14,041 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in Rush Enterprises by 155.3% in the fourth quarter. Gotham Asset Management LLC now owns 35,826 shares of the company's stock worth $1,932,000 after purchasing an additional 21,793 shares during the period. 84.43% of the stock is currently owned by institutional investors.

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.

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