Credit Acceptance (NASDAQ:CACC) Releases Quarterly Earnings Results, Beats Expectations 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, beating 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 Trading Down 2.1 %

Shares of CACC traded down $10.96 during midday trading on Thursday, hitting $514.06. The stock had a trading volume of 89,410 shares, compared to its average volume of 57,440. The stock’s 50 day moving average is $481.23 and its 200 day moving average is $474.89. The firm has a market cap of $6.23 billion, a PE ratio of 34.52 and a beta of 1.46. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63. Credit Acceptance has a 1 year low of $409.22 and a 1 year high of $616.66.

Insider Buying and Selling

In other news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $489.90, for a total transaction of $270,424.80. Following the completion of the sale, the chief operating officer now directly owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Credit Acceptance

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.