Credit Acceptance (NASDAQ:CACC) Posts Earnings Results, Beats Expectations By $2.47 EPS

Credit Acceptance (NASDAQ:CACC) issued its quarterly earnings data on Thursday. The credit services provider reported $10.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.70 by $2.47, Zacks reports. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%.

Credit Acceptance Price Performance

Shares of CACC traded down $10.96 during mid-day trading on Thursday, reaching $514.06. The stock had a trading volume of 89,410 shares, compared to its average volume of 57,440. The business has a fifty day moving average of $481.23 and a 200 day moving average of $474.89. The company has a debt-to-equity ratio of 3.79, a quick ratio of 23.63 and a current ratio of 23.63. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 34.52 and a beta of 1.46. Credit Acceptance has a 12 month low of $409.22 and a 12 month high of $616.66.

Insider Activity

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total value of $270,424.80. Following the completion of the transaction, the chief operating officer now directly owns 31,493 shares in the company, valued at $15,428,420.70. This represents a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CACC shares. StockNews.com downgraded Credit Acceptance from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. TD Cowen cut their target price on shares of Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Finally, Stephens assumed coverage on shares of Credit Acceptance in a research report on Wednesday, November 13th. They issued an “equal weight” rating and a $452.00 price target on the stock.

Credit Acceptance Company Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.