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

Rush Enterprises, Inc. (NASDAQ:RUSHA) shares shot up 5.2% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $64.45 and last traded at $64.36. 32,475 shares were traded during mid-day trading, a decline of 88% from the average session 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.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Rush Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in Rush Enterprises by 266.1% in the 3rd quarter. Blue Trust Inc. now owns 703 shares of the company’s stock valued at $37,000 after buying an additional 511 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Rush Enterprises by 475.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 851 shares of the company’s stock worth $46,000 after acquiring an additional 703 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Rush Enterprises by 24.4% in the fourth quarter. GAMMA Investing LLC now owns 979 shares of the company’s stock valued at $54,000 after purchasing an additional 192 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Rush Enterprises during the third quarter valued at about $58,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Rush Enterprises by 121.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the company’s stock worth $62,000 after purchasing an additional 616 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Stock Up 5.4 %

The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $5.09 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.41 and a beta of 1.02. The stock’s 50-day simple moving average is $58.29 and its 200-day simple moving average is $55.92.

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.