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

Credit Acceptance (NASDAQ:CACC) released its earnings results on Thursday. The credit services provider reported $10.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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

Shares of CACC traded down $10.96 during mid-day trading on Thursday, hitting $514.06. 89,410 shares of the stock were exchanged, compared to its average volume of 57,443. The firm has a 50-day moving average of $481.23 and a two-hundred day moving average of $474.89. Credit Acceptance has a 52-week low of $409.22 and a 52-week high of $616.66. 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 company has a market cap of $6.23 billion, a PE ratio of 34.52 and a beta of 1.46.

Analyst Upgrades and Downgrades

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

Insider Activity at Credit Acceptance

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 transaction of $270,424.80. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.30% of the stock is currently owned by insiders.

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.