Credit Acceptance (NASDAQ:CACC) released its earnings results on Thursday. The credit services provider reported $5.40 earnings per share for the quarter, missing analysts’ consensus estimates of $8.36 by ($2.96), MarketWatch Earnings reports. The firm had revenue of $406.30 million for the quarter, compared to analyst estimates of $372.72 million. Credit Acceptance had a net margin of 21.79% and a return on equity of 30.06%.
CACC opened at $467.94 on Friday. Credit Acceptance has a 52 week low of $199.00 and a 52 week high of $520.00. The stock’s fifty day moving average is $434.24 and its two-hundred day moving average is $383.53. The company has a market capitalization of $8.26 billion, a P/E ratio of 25.82 and a beta of 1.29. The company has a quick ratio of 28.62, a current ratio of 28.62 and a debt-to-equity ratio of 2.42.
In other news, major shareholder Donald A. Foss sold 10,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $331.03, for a total value of $3,310,300.00. Following the completion of the sale, the insider now owns 1,826,562 shares of the company’s stock, valued at approximately $604,646,818.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Prescott General Partners Llc sold 4,500 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $425.97, for a total value of $1,916,865.00. The disclosure for this sale can be found here. Insiders sold a total of 72,395 shares of company stock worth $30,271,605 over the last quarter. Company insiders own 5.20% of the company’s stock.
A number of research firms have issued reports on CACC. JMP Securities cut their price target on Credit Acceptance from $350.00 to $150.00 and set a “market underperform” rating on the stock in a report on Friday, April 3rd. BidaskClub raised Credit Acceptance from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. TheStreet upgraded Credit Acceptance from a “c+” rating to a “b” rating in a research note on Thursday. Credit Suisse Group lifted their price target on Credit Acceptance from $200.00 to $240.00 and gave the company an “underperform” rating in a research report on Friday. Finally, ValuEngine cut Credit Acceptance from a “hold” rating to a “sell” rating in a research note on Friday, May 29th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Credit Acceptance currently has a consensus rating of “Hold” and a consensus price target of $293.50.
Credit Acceptance Company Profile
Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. The company advances money to dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps various amounts collected from the consumers.
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