Hot Stock in the Spotlight: Rush Enterprises Inc. (NASDAQ: RUSHB)

Jerome Brooks

Shares of Rush Enterprises Inc. (NASDAQ: RUSHB) declined -2.85% to $44.36. The stock traded total volume of 6.476K shares higher than the average volume of 6.40K shares.

Rush Enterprises Inc. (NASDAQ: RUSHB) reported revenues of $1.60B and net income of $39.10M, or $1.05 per diluted share, compared with revenues of $1.38B and net income of $41.70M, or $1.03 per diluted share, in the quarter ended September 30, 2018.  Additionally, the Company’s Board of Directors declared a cash dividend of $0.13 per share of Class A and Class B Common Stock, to be paid on December 10, 2019, to all shareholders of record as of November 8, 2019.

Aftermarket Products and Services:

Aftermarket products and services accounted for approximately 64.4% of the Company’s total gross profits in the third quarter, with parts, service and collision center revenues reaching $454.80M, up 6.5% compared to the third quarter of 2018.  The Company achieved a quarterly absorption ratio of 120% in the third quarter of 2019.

Financial Highlights:

In the third quarter of 2019, the Company’s gross revenues totaled $1.60B, a 16.2% increase from gross revenues of $1.38B reported for the third quarter of 2018.  Net income for the third quarter was $39.10M, or $1.05 per diluted share, compared to net income of $41.70M, or $1.03 per diluted share, in the third quarter of 2018.

Parts, service and collision center revenues were $454.80M in the third quarter of 2019, compared to $426.80M in the third quarter of 2018.  The Company delivered 4,318 new heavy-duty trucks, 4,566 new medium-duty commercial vehicles, 525 new light-duty commercial vehicles and 1,868 used commercial vehicles during the third quarter of 2019, compared to 3,325 new heavy-duty trucks, 3,349 new medium-duty commercial vehicles, 567 new light-duty commercial vehicles and 2,197 used commercial vehicles during the third quarter of 2018.

During the third quarter of 2019, the Company repurchased $16.10M of its common stock, paid a cash dividend of $4.70M and ended the quarter with $86.10M in cash and cash equivalents.

RUSHB has the market capitalization of $366.50M. Price to sales ratio was 0.06 while 44.49% of the stock was owned by institutional investors.

Rush Enterprises Inc., NASDAQ: RUSHB, RUSHB

Jerome Brooks

Jerome Brooks

I am Jerome Brooks and I focus on breaking news stories and ensuring we (“Tribune Updates”) offer timely reporting on some of the most recent stories released through market wires about “Industrial Goods” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Tribune Updates specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 1461 Gore Street Houston, TX 77092, USA Phone: (+1) 81 713-586-3713 Email: Jeromebrooks@tribuneupdates.com

Leave a Reply

Your email address will not be published. Required fields are marked *