Rush Enterprises (NASDAQ:RUSHA – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05, Zacks reports. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Rush Enterprises had a net margin of 3.67% and a return on equity of 11.78%.
Rush Enterprises Price Performance
Shares of Rush Enterprises stock traded down $3.06 during trading hours on Thursday, reaching $78.56. The stock had a trading volume of 135,338 shares, compared to its average volume of 482,547. The stock’s 50 day moving average is $72.14 and its 200 day moving average is $69.67. The firm has a market capitalization of $6.11 billion, a PE ratio of 23.62, a PEG ratio of 1.74 and a beta of 0.89. Rush Enterprises has a twelve month low of $45.67 and a twelve month high of $83.50. The company has a current ratio of 1.46, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.
Rush Enterprises shares are scheduled to split on the morning of Tuesday, August 11th. The 3-2 split was recently announced. The newly created shares will be distributed to shareholders after the market closes on Monday, August 10th.
Rush Enterprises Cuts Dividend
Institutional Investors Weigh In On Rush Enterprises
A number of institutional investors have recently added to or reduced their stakes in RUSHA. CIBC Private Wealth Group LLC grew its position in shares of Rush Enterprises by 495.4% in 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 purchased a new position in Rush Enterprises in the 3rd quarter valued at about $34,000. Allworth Financial LP boosted its holdings in Rush Enterprises by 5,790.9% in the 3rd quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $35,000 after buying an additional 637 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Rush Enterprises by 427.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the company’s stock worth $40,000 after buying an additional 633 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Rush Enterprises by 70.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 950 shares of the company’s stock worth $51,000 after buying an additional 392 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.
Trending Headlines about Rush Enterprises
Here are the key news stories impacting Rush Enterprises this week:
- Positive Sentiment: Earnings beat supports the stock: Rush reported second-quarter revenue of $1.90 billion and diluted EPS of $0.91, ahead of analyst expectations of $1.89 billion and $0.86, respectively. The results helped shares reach a new one-year high. Rush Enterprises Reaches New 1-Year High Following Earnings Beat
- Positive Sentiment: Stephens raised its price target: Stephens increased its target from $90 to $95 and assigned an “overweight” rating, implying approximately 16.4% upside from the referenced price. The upgrade provides an additional bullish signal for RUSHA. Benzinga analyst update
- Positive Sentiment: Capital-return and expansion plans add support: The board announced a three-for-two split and a post-split quarterly dividend of $0.14 per share, representing a 10.5% increase. Rush also highlighted acquisitions expanding its dealership network and a joint venture with MCT Companies, a Carrier Transicold dealer. Rush Enterprises Second-Quarter Results and Corporate Actions
- Neutral Sentiment: The stock split is not a fundamental value change: Class A and Class B shares are scheduled to split three-for-two before the market opens on August 11, with additional shares distributed after the August 10 close. The split may improve accessibility and trading liquidity but does not by itself change shareholders’ proportional ownership or the company’s valuation. Rush Enterprises Shares Set to Split
- Negative Sentiment: Year-over-year growth was limited: Second-quarter revenue declined from $1.931 billion to $1.900 billion, while net income was nearly unchanged at $72.8 million versus $72.4 million a year earlier. This suggests the earnings beat was driven primarily by execution relative to expectations rather than strong underlying growth. Rush Enterprises Second-Quarter Results
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on RUSHA shares. Stephens raised their target price on shares of Rush Enterprises from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday. Wall Street Zen cut Rush Enterprises from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings upgraded Rush Enterprises from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. UBS Group upped their target price on Rush Enterprises from $73.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Zacks Research upgraded Rush Enterprises from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.00.
Check Out Our Latest Analysis on RUSHA
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.
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