Rush Enterprises (NASDAQ:RUSHA) Trading Up 5.2% on Earnings Beat

Rush Enterprises, Inc. (NASDAQ:RUSHA)’s share price rose 5.2% during 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 were traded during 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 analysts’ consensus estimates of $0.82 by $0.09. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.86 billion.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in Rush Enterprises by 34.8% in the 3rd quarter. FMR LLC now owns 5,174,262 shares of the company’s stock valued at $273,356,000 after purchasing an additional 1,336,528 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Rush Enterprises by 1,398.4% during the 4th quarter. Jennison Associates LLC now owns 509,380 shares of the company’s stock worth $27,909,000 after acquiring an additional 475,384 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Rush Enterprises by 5,379.0% in the fourth quarter. Proficio Capital Partners LLC now owns 334,822 shares of the company’s stock valued at $18,345,000 after acquiring an additional 328,711 shares in the last quarter. Norges Bank bought a new position in Rush Enterprises during the fourth quarter worth about $10,127,000. Finally, Janus Henderson Group PLC raised its stake in Rush Enterprises by 148.1% in the 3rd quarter. Janus Henderson Group PLC now owns 308,204 shares of the company’s stock worth $16,282,000 after purchasing an additional 183,965 shares in the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Stock Performance

The stock’s 50-day simple moving average is $58.29 and its 200-day simple moving average is $55.92. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.41 and a beta of 1.02. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23.

Rush Enterprises Company Profile

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.