Credit Acceptance (NASDAQ:CACC) Announces Quarterly Earnings Results, Beats Estimates By $2.47 EPS

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

Credit Acceptance Price Performance

Credit Acceptance stock opened at $514.06 on Friday. The stock has a market capitalization of $6.23 billion, a P/E 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. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. The firm’s 50-day moving average is $482.31 and its two-hundred day moving average is $475.16.

Insider Activity

In related news, COO Jonathan Lum sold 552 shares of the company’s stock in a transaction 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 approximately $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

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