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

Credit Acceptance (NASDAQ:CACC) announced its quarterly earnings results on Thursday. The credit services provider reported $10.17 earnings per share (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 1.2 %

NASDAQ CACC opened at $507.77 on Friday. The firm has a market capitalization of $6.15 billion, a PE ratio of 34.10 and a beta of 1.46. The stock’s 50 day moving average is $483.00 and its 200 day moving average is $474.63. Credit Acceptance has a twelve month low of $409.22 and a twelve month 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.

Insiders Place Their Bets

In other Credit Acceptance news, COO Jonathan Lum sold 552 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 31,493 shares of the company’s stock, valued at approximately $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CACC. TD Cowen reduced their target price 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 upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Friday. Finally, Stephens upped their price objective on shares of Credit Acceptance from $452.00 to $500.00 and gave the stock an “equal weight” rating in a report on Friday.

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.