Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA – Get Free Report) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $56.56 and last traded at $56.25, with a volume of 38392 shares changing hands. The stock had previously closed at $51.01.
The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.20. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Rush Enterprises had a return on equity of 17.16% and a net margin of 4.16%. Rush Enterprises’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 EPS.
Wall Street Analysts Forecast Growth
Separately, Stephens began coverage on Rush Enterprises in a research note on Monday, July 8th. They issued an “overweight” rating for the company.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUSHA. Essex Savings Bank bought a new position in shares of Rush Enterprises during the 4th quarter valued at about $204,000. Camelot Portfolios LLC purchased a new stake in shares of Rush Enterprises in the fourth quarter worth about $429,000. International Assets Investment Management LLC lifted its position in shares of Rush Enterprises by 4,929.9% in the fourth quarter. International Assets Investment Management LLC now owns 18,007 shares of the company’s stock worth $906,000 after buying an additional 17,649 shares in the last quarter. New York State Teachers Retirement System bought a new position in Rush Enterprises during the fourth quarter valued at approximately $781,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Rush Enterprises by 4.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,552 shares of the company’s stock valued at $1,436,000 after buying an additional 1,222 shares in the last quarter. 84.43% of the stock is currently owned by institutional investors.
Rush Enterprises Trading Up 9.9 %
The firm has a market cap of $4.41 billion, a P/E ratio of 12.89, a P/E/G ratio of 2.33 and a beta of 1.02. The stock has a 50 day simple moving average of $44.53 and a 200-day simple moving average of $46.51. The company has a current ratio of 1.43, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.
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.
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