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

Credit Acceptance (NASDAQ:CACC) announced its earnings results on Tuesday. The credit services provider reported $9.28 EPS for the quarter, beating analysts’ consensus estimates of $6.81 by $2.47, Yahoo Finance reports. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.34%. The firm had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $497.71 million. During the same quarter in the previous year, the business posted $9.71 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis.

Credit Acceptance Stock Performance

Shares of CACC stock opened at $492.58 on Thursday. Credit Acceptance has a one year low of $379.77 and a one year high of $616.66. The company’s 50-day moving average is $544.58 and its 200 day moving average is $509.70. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 25.27 and a beta of 1.44. The company has a debt-to-equity ratio of 2.84, a quick ratio of 15.71 and a current ratio of 15.71.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Credit Acceptance presently has a consensus rating of “Hold” and an average target price of $381.75.

Insider Activity at Credit Acceptance

In related news, insider Douglas W. Busk sold 500 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $1,804,897.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Douglas W. Busk sold 500 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $1,804,897.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas W. Busk sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $572.58, for a total transaction of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,781,868.96. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

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.