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. It is also involved in the business of reinsuring coverage under vehicle service contracts sold to consumers by dealers on vehicles financed by the company. Credit Acceptance Corporation was founded in 1972 and is headquartered in Southfield, Michigan.
IPO Year: 1992
Exchange: NASDAQ
Website: creditacceptance.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/13/2024 | $452.00 | Equal-Weight | Stephens |
| 11/1/2023 | $360.00 | Underperform | TD Cowen |
| 2/1/2022 | $411.00 → $428.00 | Market Perform | BMO Capital |
| 11/2/2021 | $380.00 → $420.00 | Underperform | Credit Suisse |
| 11/2/2021 | $295.00 → $355.00 | Market Underperform | JMP Securities |
| 11/2/2021 | $470.00 → $519.00 | Equal-Weight | Stephens & Co. |
| 7/30/2021 | $330.00 → $360.00 | Underperform | Credit Suisse |
| 7/6/2021 | $310.00 → $330.00 | Underperform | Credit Suisse |
Southfield, Michigan, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named a winner of the 2024 Detroit Free Press Top Workplaces. We ranked #2 among the top large companies in Michigan, the same as a year ago. This is the 13th year in a row that the Company has been recognized with this award by the Detroit Free Press. We also received the prestigious Managers Specialty Award for our leaders' efforts to help team members grow and learn as well as for caring about their concerns. "Credit Acceptance may be a remote-first company, but our roots remain firmly planted in Michigan,
Southfield, Michigan, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") today announced consolidated net income of $78.8 million, or $6.35 per diluted share, for the three months ended September 30, 2024 compared to consolidated net income of $70.8 million, or $5.43 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended September 30, 2024 was $109.1 million, or $8.79 per diluted share, compared to $139.5 million, or $10.70 per diluted share, for the same period in 2023. The following table summarizes our financial resul
Southfield, Michigan, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named one of the 2024 Best Workplaces for Women™ by Great Place to Work® and Fortune for the sixth time. We ranked #29 on the Top 100 Large Company list, up 47 spots from last year. "With nearly 60% of our workforce being women, empowering female team members is imperative to our business success," said Wendy Rummler, Chief People Officer. "This recognition spotlights our commitment to creating a culture where all team members can thrive regardless of gender, job title, race, work status, or other demographic
Southfield, Michigan, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. A webcast is scheduled for Thursday, October 31, 2024, at 8:30 a.m. Eastern Time to discuss third quarter 2024 earnings. Conference Call and Webcast Information:Date: Thursday, October 31, 2024Time: 8:30 a.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To par
Southfield, Michigan, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named to the 2024 list of Top Workplaces for Remote Work by Monster and Energage. This is our first time being recognized on this list, with a #2 ranking out of 54 companies honored in the 500-plus employee-size category. The list celebrates organizations that cultivate exceptional remote working environments based on employee feedback. "Building and maintaining a strong remote work culture requires a thoughtful combination of strategic vision, personalized team member support, and meaningful opportunities fo
Southfield, Michigan, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $600.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $750.2 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: Note Class Amount Average Life Price Interest Rate A $316,464,000 2.45 years 99.98629% 4.68% B $121,668,000 3.08 years 99.97303% 4.85% C $161,868,000 3.53 years 99.98737% 5.39% The Finan
Southfield, Michigan , Sept. 19, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we have increased the amount of Warehouse Facility II (the "Facility"), one of our revolving secured warehouse facilities, from $400.0 million to $500.0 million. We also extended the date on which the Facility will cease to revolve from April 30, 2026 to September 20, 2027. The interest rate on borrowings under the Facility has decreased from the Secured Overnight Financing Rate ("SOFR") plus 230 basis points to SOFR plus 185 basis points. There were no other material changes to the Facility. As
Southfield, Michigan, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named one of the 2024 Best Workplaces in Financial Services & Insurance™ by Great Place to Work® and Fortune for the tenth consecutive year. The Company ranked #13 out of 50 companies in the large company category. "At Credit Acceptance, we're committed to offering our team members flexibility and opportunities for career growth, setting them up for success in our mission of making car ownership accessible to those who need it most," said Ken Booth, Chief Executive Officer. Our award-winning workplace i
Southfield, Michigan, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named one of PEOPLE Magazine's 100 Companies That Care® by Great Place To Work® and PEOPLE magazine for the third consecutive year. Credit Acceptance was ranked 59th among the 100 companies that made the list. "This award is a reflection of our remarkable culture," said Ken Booth, CEO of Credit Acceptance. "Together, we are creating a better environment for one another, our customers, and the communities we serve." This award celebrates the best places to work as demonstrated by a company's commitment to it
Southfield, Michigan, July 31, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") today announced consolidated net loss of $47.1 million, or $3.83 per diluted share, for the three months ended June 30, 2024 compared to consolidated net income of $22.2 million, or $1.69 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended June 30, 2024 was $126.4 million, or $10.29 per diluted share, compared to $140.0 million, or $10.69 per diluted share, for the same period in 2023. The following table summarizes our financial results: (In
4 - CREDIT ACCEPTANCE CORP (0000885550) (Issuer)
Southfield, Michigan, April 29, 2021 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") today announced that Brett A. Roberts, the Company's Chief Executive Officer and President and a member of the Company's Board of Directors, will retire at the close of business on May 3, 2021. The Board of Directors has unanimously elected and appointed the Company's Chief Financial Officer, Kenneth S. Booth, as the Company's new Chief Executive Officer and President and as a director, effective May 3, 2021. Tom Tryforos, the Company's Lead Director, said "I think I speak for all at Credit Acceptance in saying that
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Stephens initiated coverage of Credit Acceptance Corp. with a rating of Equal-Weight and set a new price target of $452.00
TD Cowen initiated coverage of Credit Acceptance Corp. with a rating of Underperform and set a new price target of $360.00
BMO Capital reiterated coverage of Credit Acceptance with a rating of Market Perform and set a new price target of $428.00 from $411.00 previously
Credit Suisse reiterated coverage of Credit Acceptance with a rating of Underperform and set a new price target of $420.00 from $380.00 previously
JMP Securities reiterated coverage of Credit Acceptance with a rating of Market Underperform and set a new price target of $355.00 from $295.00 previously
Stephens & Co. reiterated coverage of Credit Acceptance with a rating of Equal-Weight and set a new price target of $519.00 from $470.00 previously
Credit Suisse reiterated coverage of Credit Acceptance with a rating of Underperform and set a new price target of $360.00 from $330.00 previously
Credit Suisse reiterated coverage of Credit Acceptance with a rating of Underperform and set a new price target of $330.00 from $310.00 previously
BMO Capital reiterated coverage of Credit Acceptance with a rating of Market Perform and set a new price target of $399.00 from $377.00 previously
Southfield, Michigan, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. A webcast is scheduled for Thursday, October 31, 2024, at 8:30 a.m. Eastern Time to discuss third quarter 2024 earnings. Conference Call and Webcast Information:Date: Thursday, October 31, 2024Time: 8:30 a.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To par
Southfield, Michigan , July 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our second quarter 2024 results on Wednesday, July 31, 2024, after the market closes. A webcast is scheduled for Wednesday, July 31, 2024, at 5:00 p.m. Eastern Time to discuss second quarter 2024 results. Conference Call and Webcast Information:Date: Wednesday, July 31, 2024Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participa
Southfield, Michigan, April 23, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our first quarter 2024 earnings on Tuesday, April 30, 2024, after the market closes. A webcast is scheduled for Tuesday, April 30, 2024, at 5:00 p.m. Eastern Time to discuss first quarter 2024 earnings. Conference Call and Webcast Information:Date: Tuesday, April 30, 2024Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by tel
Southfield, Michigan, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our fourth quarter 2023 earnings on Wednesday, January 31, 2024, after the market closes. A webcast is scheduled for Wednesday, January 31, 2024, at 5:00 p.m. Eastern Time to discuss fourth quarter 2023 earnings. Conference Call and Webcast Information:Date: Wednesday, January 31, 2024Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To parti
Southfield, Michigan, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our third quarter 2023 earnings on Monday, October 30, 2023, after the market closes. A webcast is scheduled for Monday, October 30, 2023, at 5:00 p.m. Eastern Time to discuss third quarter 2023 earnings. Conference Call and Webcast Information:Date: Monday, October 30, 2023Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by t
Southfield, Michigan, July 25, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our second quarter 2023 earnings on Tuesday, August 1, 2023, after the market closes. A webcast is scheduled for Tuesday, August 1, 2023, at 5:00 p.m. Eastern Time to discuss second quarter 2023 earnings. Conference Call and Webcast Information:Date: Tuesday, August 1, 2023Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participat
Southfield, Michigan, April 24, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our first quarter 2023 earnings on Monday, May 1, 2023, after the market closes. A webcast is scheduled for Monday, May 1, 2023, at 5:00 p.m. Eastern Time to discuss first quarter 2023 earnings. Conference Call and Webcast Information: Date: Monday, May 1, 2023 Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast. To participate by telephone, yo
Southfield, Michigan , Jan. 24, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our fourth quarter and full year 2022 earnings on Tuesday, January 31, 2023, after the market closes. A webcast is scheduled for Tuesday, January 31, 2023, at 5:00 p.m. Eastern Time to discuss fourth quarter and full year 2022 earnings. Conference Call and Webcast Information: Date: Tuesday, January 31, 2023 Time: 5:00 p.m. Eastern Time Telephone Access: Only persons accessing the webcast by telephone will be able to pose questions to the presente
Southfield, Michigan , Oct. 25, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our third quarter 2022 earnings on Tuesday, November 1, 2022, after the market closes. A webcast is scheduled for Tuesday, November 1, 2022, at 5:00 p.m. Eastern Time to discuss third quarter earnings. Conference Call and Webcast Information: Date: Tuesday, November 1, 2022 Time: 5:00 p.m. Eastern Time Telephone Access: To participate by telephone, including those who wish to ask questions, you must pre-register using the following link: https:
Southfield, Michigan , July 25, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we expect to issue a news release with our second quarter 2022 earnings on Monday, August 1, 2022, after the market closes. A webcast is scheduled for Monday, August 1, 2022, at 5:00 p.m. Eastern Time to discuss second quarter earnings. Conference Call and Webcast Information: Date: Monday, August 1, 2022 Time: 5:00 p.m. Eastern Time Telephone Access: To participate by telephone, including those who wish to ask questions, you must pre-register using the following link: https:/
10-Q - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
8-K - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
8-K - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
8-K - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
ABS-15G - CREDIT ACCEPTANCE CORP (0000885550) (Securitizer)
S-8 - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
10-Q - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
8-K - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
8-K - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
8-K - CREDIT ACCEPTANCE CORP (0000885550) (Filer)
So far this year, car repossessions are up 23% compared with the same period last year. What Happened: According to Bloomberg, citing data from Cox Automotive, vehicle repossessions began increasing in 2023. They’re up 14% from the first half of 2019, exceeding pre-pandemic levels. Vehicle seizures, which usually happen after three months of missed car payments, fell during the pandemic. Recall how lenders became more lenient and stimulus checks boosted borrowers' finances. Also Read: How Are BYD, Xiaomi And Nio Boosting Car Sales? But the Federal Reserve’s refusing to cut interest rates have led to heftier car payments. The average interest rate for a new car is currently 7.3%
As of July 15, 2024, five stocks in the financials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. Root Inc (NASDAQ:ROOT) On June 5, TD Cowen analyst Andrew Kligerman maintained Root with a Ho
TD Cowen analyst Moshe Orenbuch maintains Credit Acceptance (NASDAQ:CACC) with a Sell and lowers the price target from $465 to $420.
Credit Acceptance (NASDAQ:CACC) reported quarterly earnings of $9.28 per share which beat the analyst consensus estimate of $8.35 by 11.14 percent. This is a 4.43 percent decrease over earnings of $9.71 per share from the same period last year. The company reported quarterly sales of $508.000 million which beat the analyst consensus estimate of $455.758 million by 11.46 percent. This is a 11.94 percent increase over sales of $453.800 million the same period last year.
Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) fell sharply during Thursday’s session after the company reported worse-than-expected fourth-quarter financial results. C.H. Robinson Worldwide posted adjusted earnings of 50 cents per share, missing market estimates if 81 cents per share. The company’s quarterly sales came in at $4.20 billion versus estimates of $4.34 billion. C.H. Robinson Worldwide shares dipped 12.6% to $73.49 on Thursday. Here are some other stocks moving in today's mid-day session. Gainers Minim, Inc. (NASDAQ:MINM) shares climbed 57.3% to $6.45. David E. Lazar recently disclosed a 51% active stake in Minim. Clearmind Medicine Inc. (NASDAQ:CMND) jumped 51% t
U.S. stocks traded higher, with the Dow Jones gaining over 100 points on Thursday. Shares of Eaton Corporation plc (NYSE:ETN) rose sharply during Thursday’s session after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance. Eaton posted adjusted earnings of $2.55 per share, beating market estimates of $2.47 per share. The company’s quarterly sales came in at $5.97 billion versus expectations of $5.91 billion, according to data from Benzinga Pro. Eaton shares gained 6.2% to $261.48 on Thursday. Here are some other big stocks recording gains in today’s session. Cimpress plc (NASDAQ:CMPR) shares surged 28.8% to $96.90 after the company rep
Credit Acceptance (NASDAQ:CACC) reported its Q4 earnings results on Wednesday, January 31, 2024 at 04:02 PM. Here's what investors need to know about the announcement. Earnings Credit Acceptance beat estimated earnings by 85.27%, reporting an EPS of $10.06 versus an estimate of $5.43. Revenue was up $32.60 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $4.99 which was followed by a 1.35% increase in the share price the next day. Here's a look at Credit Acceptance's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 5.71 8.18 8.81 7.16 EPS Actual 10.70 10.69 9.71 11.74 Revenue Estimate 487.25M 463.86M 45
Credit Acceptance (NASDAQ:CACC) reported quarterly earnings of $10.06 per share which beat the analyst consensus estimate of $5.43 by 85.27 percent. This is a 14.31 percent decrease over earnings of $11.74 per share from the same period last year. The company reported quarterly sales of $491.60 million which beat the analyst consensus estimate of $489.53 million by 0.42 percent. This is a 7.10 percent increase over sales of $459.00 million the same period last year.
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