Rush Enterprises, Inc. (RUSHA) Expected to Announce Quarterly Sales of $1.19 Billion
Equities analysts forecast that Rush Enterprises, Inc. (NASDAQ:RUSHA) will post sales of $1.19 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Rush Enterprises’ earnings. The lowest sales estimate is $1.18 billion and the highest is $1.21 billion. Rush Enterprises posted sales of $1.10 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The company is expected to announce its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Rush Enterprises will report full year sales of $1.19 billion for the current fiscal year, with estimates ranging from $4.55 billion to $4.62 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.73 billion per share, with estimates ranging from $4.63 billion to $4.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Rush Enterprises.
Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.15. Rush Enterprises had a return on equity of 7.31% and a net margin of 1.46%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.07 billion.
A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Rush Enterprises from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research note on Saturday, July 29th. BidaskClub upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $38.00 price objective on shares of Rush Enterprises in a research note on Friday, July 28th. Finally, Buckingham Research assumed coverage on Rush Enterprises in a research note on Tuesday, September 5th. They set a “neutral” rating and a $40.00 price objective for the company. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $41.80.
Shares of Rush Enterprises (NASDAQ RUSHA) opened at 43.39 on Friday. The company’s 50-day moving average price is $40.57 and its 200 day moving average price is $37.13. The company has a market cap of $1.73 billion, a P/E ratio of 27.39 and a beta of 1.19. Rush Enterprises has a one year low of $21.99 and a one year high of $43.56.
Several hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in shares of Rush Enterprises by 9.5% in the second quarter. Sterling Capital Management LLC now owns 34,494 shares of the company’s stock worth $1,282,000 after purchasing an additional 2,984 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Rush Enterprises by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,112 shares of the company’s stock worth $152,000 after purchasing an additional 316 shares during the last quarter. Castleark Management LLC purchased a new position in shares of Rush Enterprises in the second quarter worth $8,598,000. State Street Corp raised its stake in shares of Rush Enterprises by 8.8% in the second quarter. State Street Corp now owns 648,898 shares of the company’s stock worth $24,125,000 after purchasing an additional 52,409 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of Rush Enterprises in the second quarter worth $6,864,000. Hedge funds and other institutional investors own 75.44% of the company’s stock.
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About Rush Enterprises
Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.
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