Rush Enterprises (NASDAQ:RUSHA) Hits New 12-Month High Following Earnings Beat

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The company's revenue was down 4.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

Separately, Stephens assumed coverage on Rush Enterprises in a report on Monday, July 8th. They issued an "overweight" rating on the stock.

Insider Buying and Selling at Rush Enterprises

In related news, SVP Jason Wilder sold 4,500 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total transaction of $232,560.00. Following the sale, the senior vice president now directly owns 534 shares of the company's stock, valued at $27,597.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William M. Rusty Rush sold 40,000 shares of Rush Enterprises 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 transaction, the chief executive officer now directly owns 174,154 shares in the company, valued at approximately $9,371,226.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Wilder sold 4,500 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the completion of the transaction, the senior vice president now directly owns 534 shares in the company, valued at approximately $27,597.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,875 shares of company stock valued at $3,422,554 in the last quarter. Company insiders own 12.53% of the company's stock.

Institutional Trading of Rush Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of RUSHA. Cooke & Bieler LP raised its stake in shares of Rush Enterprises by 10.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,092,709 shares of the company's stock worth $45,752,000 after buying an additional 100,318 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Rush Enterprises by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,047,905 shares of the company's stock valued at $43,875,000 after buying an additional 63,413 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Rush Enterprises by 239.1% in the first quarter. William Blair Investment Management LLC now owns 794,375 shares of the company's stock valued at $42,515,000 after buying an additional 560,138 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in Rush Enterprises by 11.5% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 691,390 shares of the company's stock valued at $37,003,000 after purchasing an additional 71,402 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Rush Enterprises by 2.2% during the 1st quarter. Clearbridge Investments LLC now owns 427,553 shares of the company's stock worth $22,883,000 after buying an additional 9,397 shares during the last quarter. 84.43% of the stock is owned by institutional investors and hedge funds.

Rush Enterprises Trading Up 8.1 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 1.40. The business has a fifty day simple moving average of $51.65 and a 200 day simple moving average of $48.04. The company has a market cap of $4.67 billion, a P/E ratio of 15.99, a P/E/G 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.