Credit Acceptance (NASDAQ:CACC - Get Free Report) posted its earnings results on Thursday. The credit services provider reported $10.17 earnings per share for the quarter, beating the consensus estimate of $7.70 by $2.47, Zacks reports. Credit Acceptance had a return on equity of 29.60% and a net margin of 11.46%.
Credit Acceptance Stock Performance
NASDAQ:CACC traded up $2.83 during mid-day trading on Monday, hitting $510.60. 101,664 shares of the company's stock traded hands, compared to its average volume of 63,098. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 25.71 and a beta of 1.47. The firm has a 50 day moving average of $483.51 and a two-hundred day moving average of $472.18. The company has a current ratio of 23.63, a quick ratio of 23.63 and a debt-to-equity ratio of 3.79. Credit Acceptance has a 12 month low of $409.22 and a 12 month high of $614.96.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on CACC. Stephens raised their price objective on Credit Acceptance from $452.00 to $500.00 and gave the company an "equal weight" rating in a research note on Friday. TD Cowen dropped their price target on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Friday.
Check Out Our Latest Analysis on CACC
Insiders Place Their Bets
In related news, COO Jonathan Lum sold 552 shares of Credit Acceptance stock in a transaction dated 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 of the company's stock, valued at $15,428,420.70. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.30% of the company's stock.
About Credit Acceptance
(
Get Free Report)
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.
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