Rush Enterprises (NASDAQ:RUSHA) Trading Up 5.2% Following Better-Than-Expected Earnings

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s stock price was up 5.2% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $64.45 and last traded at $64.36. Approximately 32,475 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 274,394 shares. The stock had previously closed at $61.17.

The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.09. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%.

Rush Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Monday, March 3rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.72 annualized dividend and a yield of 1.16%. Rush Enterprises’s payout ratio is 19.10%.

Analyst Ratings Changes

Separately, Stephens restated an “overweight” rating and set a $69.00 price target on shares of Rush Enterprises in a research note on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning bought a new position in shares of Rush Enterprises during the 3rd quarter valued at approximately $316,000. Blue Trust Inc. boosted its position in shares of Rush Enterprises by 266.1% during 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 last quarter. International Assets Investment Management LLC boosted its position in shares of Rush Enterprises by 5,183.0% during the 3rd quarter. International Assets Investment Management LLC now owns 18,913 shares of the company’s stock valued at $999,000 after acquiring an additional 18,555 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Rush Enterprises by 324.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 41,400 shares of the company’s stock valued at $2,187,000 after acquiring an additional 31,657 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Rush Enterprises by 73.8% in the third quarter. Farther Finance Advisors LLC now owns 1,479 shares of the company’s stock worth $78,000 after buying an additional 628 shares during the last quarter. 84.43% of the stock is currently owned by institutional investors.

Rush Enterprises Stock Performance

The company has a market capitalization of $4.90 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.41 and a beta of 1.02. The business has a 50-day moving average of $58.30 and a 200-day moving average of $55.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 0.28.

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.