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.
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.
Featured Story: What are gap-down stocks?
Receive News & Ratings for Credit Acceptance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Acceptance and related companies with MarketBeat.com's FREE daily email newsletter.