Rush Enterprises (NASDAQ:RUSHA) Stock Price Up 5.2% on Strong Earnings

Rush Enterprises, Inc. (NASDAQ:RUSHA - Get Free Report)'s share price 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 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 for the quarter, topping the consensus estimate of $0.82 by $0.09. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 14.76%.

Rush Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Monday, March 3rd will be paid a $0.18 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. Rush Enterprises's dividend payout ratio (DPR) is currently 19.30%.

Wall Street Analysts Forecast Growth

Separately, Stephens reiterated an "overweight" rating and issued a $69.00 price target on shares of Rush Enterprises in a research note on Wednesday.

Insider Activity at Rush Enterprises

In other Rush Enterprises news, Director Michael Mcroberts sold 4,000 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $58.52, for a total value of $234,080.00. Following the completion of the sale, the director now owns 15,771 shares of the company's stock, valued at $922,918.92. The trade was a 20.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.53% of the stock is owned by company insiders.

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Institutional Trading of Rush Enterprises

A number of institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in Rush Enterprises by 34.8% in the 3rd quarter. FMR LLC now owns 5,174,262 shares of the company's stock valued at $273,356,000 after purchasing an additional 1,336,528 shares during the period. State Street Corp boosted its holdings in Rush Enterprises by 0.7% in the 3rd quarter. State Street Corp now owns 2,349,597 shares of the company's stock valued at $124,129,000 after purchasing an additional 16,082 shares during the period. Geode Capital Management LLC boosted its holdings in Rush Enterprises by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,616,048 shares of the company's stock valued at $85,390,000 after purchasing an additional 16,803 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Rush Enterprises by 3.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,222,719 shares of the company's stock valued at $66,993,000 after purchasing an additional 36,326 shares during the period. Finally, Beck Mack & Oliver LLC boosted its holdings in Rush Enterprises by 0.5% in the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,567 shares of the company's stock valued at $58,821,000 after purchasing an additional 5,823 shares during the period. Institutional investors own 84.43% of the company's stock.

Rush Enterprises Stock Down 4.4 %

The stock's fifty day simple moving average is $58.16 and its 200-day simple moving average is $56.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.28 and a current ratio of 1.45. The stock has a market cap of $4.40 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.04 and a beta of 1.02.

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.