Rush Enterprises (NASDAQ:RUSHA) Reaches New 1-Year High After Strong Earnings

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $58.44 and last traded at $58.44, with a volume of 20588 shares traded. The stock had previously closed at $54.87.

The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.02. Rush Enterprises had a return on equity of 15.85% and a net margin of 3.90%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.96 earnings per share. Rush Enterprises’s revenue was down 4.3% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Stephens initiated coverage on Rush Enterprises in a research report on Monday, July 8th. They set an “overweight” rating for the company.

Insider Transactions at Rush Enterprises

In other news, CEO William M. Rusty Rush sold 40,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the completion of the transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $9,371,226.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William M. Rusty Rush sold 40,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the sale, the chief executive officer now directly owns 174,154 shares in the company, valued at $9,371,226.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Mcroberts sold 12,500 shares of Rush Enterprises stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.72, for a total transaction of $634,000.00. Following the completion of the sale, the chief operating officer now owns 15,220 shares of the company’s stock, valued at $771,958.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,875 shares of company stock valued at $3,422,554. 12.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RUSHA. Hexagon Capital Partners LLC raised its stake in Rush Enterprises by 70.3% in the first quarter. Hexagon Capital Partners LLC now owns 695 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares in the last quarter. Arizona State Retirement System lifted its holdings in Rush Enterprises by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 17,296 shares of the company’s stock worth $724,000 after buying an additional 367 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Rush Enterprises by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,270 shares of the company’s stock valued at $1,477,000 after buying an additional 405 shares during the period. GAMMA Investing LLC raised its holdings in Rush Enterprises by 147.5% in the 3rd quarter. GAMMA Investing LLC now owns 787 shares of the company’s stock worth $42,000 after purchasing an additional 469 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in Rush Enterprises by 3.7% during the 3rd quarter. QRG Capital Management Inc. now owns 13,564 shares of the company’s stock valued at $717,000 after acquiring an additional 484 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Rush Enterprises Trading Up 6.5 %

The stock has a 50 day moving average price of $51.65 and a 200 day moving average price of $48.04. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.60 billion, a PE ratio of 15.54, a PEG ratio of 2.03 and a beta of 1.01.

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.