Credit Acceptance (NASDAQ:CACC) Issues Earnings Results

Credit Acceptance (NASDAQ:CACC) issued 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 net margin of 9.08% and a return on equity of 29.18%.

Credit Acceptance Stock Down 2.1 %

Shares of NASDAQ CACC traded down $10.96 during midday trading on Thursday, reaching $514.06. 89,410 shares of the company’s stock traded hands, compared to its average volume of 57,443. The company 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 one year low of $409.22 and a one year high of $616.66. The company has a quick ratio of 23.63, a current ratio of 23.63 and a debt-to-equity ratio of 3.79. The stock’s 50 day simple moving average is $481.23 and its 200-day simple moving average is $474.89.

Insiders Place Their Bets

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were 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. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.30% of the stock is owned by company insiders.

Analyst Ratings Changes

CACC has been the topic of several research analyst reports. TD Cowen dropped their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. StockNews.com cut 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 note on Wednesday, November 13th. They set an “equal weight” rating and a $452.00 price target 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.