Credit Acceptance (NASDAQ:CACC) Announces Earnings Results

Credit Acceptance (NASDAQ:CACC) posted its quarterly earnings data on Thursday. The credit services provider reported $5.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.36 by ($2.96), MarketWatch Earnings reports. Credit Acceptance had a net margin of 21.79% and a return on equity of 30.06%. The business had revenue of $406.30 million during the quarter, compared to analyst estimates of $372.72 million.

Shares of CACC stock opened at $467.94 on Friday. The company has a quick ratio of 28.62, a current ratio of 28.62 and a debt-to-equity ratio of 2.42. Credit Acceptance has a 52-week low of $199.00 and a 52-week high of $520.00. The business has a 50-day simple moving average of $434.24 and a 200-day simple moving average of $383.53. The stock has a market cap of $8.26 billion, a PE ratio of 25.82 and a beta of 1.29.

Several brokerages have commented on CACC. BMO Capital Markets boosted their target price on Credit Acceptance from $316.00 to $337.00 in a research note on Friday, May 29th. Janney Montgomery Scott upgraded Credit Acceptance from a “sell” rating to a “neutral” rating and set a $394.00 price objective on the stock in a research note on Friday. TheStreet raised Credit Acceptance from a “c+” rating to a “b” rating in a report on Thursday. Credit Suisse Group raised their target price on Credit Acceptance from $200.00 to $240.00 and gave the stock an “underperform” rating in a research note on Friday. Finally, BTIG Research dropped their price target on Credit Acceptance from $190.00 to $160.00 and set a “sell” rating for the company in a research report on Monday, April 6th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $293.50.

In other news, major shareholder Donald A. Foss sold 8,066 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $353.94, for a total value of $2,854,880.04. Following the sale, the insider now directly owns 1,818,496 shares in the company, valued at $643,638,474.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Donald A. Foss sold 10,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $331.03, for a total value of $3,310,300.00. Following the completion of the transaction, the insider now directly owns 1,826,562 shares in the company, valued at approximately $604,646,818.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,395 shares of company stock valued at $30,271,605. 5.20% of the stock is owned by company insiders.

Credit Acceptance Company Profile

Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.

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Earnings History for Credit Acceptance (NASDAQ:CACC)

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